Jaguar Land Rover Might Announce Model Cuts In A Few Weeks
Jaguar and Land Rover are currently working on a number of new or updated models, including the new Jag XF and XJ, as well as the Discovery facelift. On the surface, everything seems to be going well, but apparently there could be financial problems within the automaker that could force it to rethink its strategy.
The British manufacturer will do market analysis and try to determine whether global sales will recover quickly from the coronavirus epidemic. If the indications are not good, however, he will eventually decide to cut the existing models.
“In the case of JLR, we have to wait a few more weeks to better understand this,” said PB Balaji, chief financial officer for Tata Motors, owner of JLR, when called on June 15 by investors, call host. , Robin Zhou of Bernstein Research. “We don’t want to react to the headlines to decide on a long-term strategy [because] this decision will affect us in three to four years. “
It turns out that some development programs for new or updated models have already been delayed due to the global crisis in the automotive industry. However, nothing has been significantly canceled or changed.
“We will be back later this year once we understand the speed of cash accumulation and affordability and what it means for these paused programs,” said JLR CFO Adrian Mardell. , during a separate call.
A report by Automotive news Even says the future of the Jaguar brand is currently under study as part of a project to be overseen by the company’s chief marketing officer, Felix Braeutigam.
“It is not an easy task. It is a very famous brand, but in some markets it is not as strong as it should be. The team is directly focused on positioning the Jaguar brand and how we’re going to make it sharper. And how we ensure that the portfolio we have is in line with this position, ”commented Balaji.
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