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JLR Will Cut SUV Production as Brexit, Diesel Taxes Hurt Sales
Jaguar Land Rover Ltd. says it will reduce SUV output in the second quarter of 2018 to offset softening demand caused by higher diesel taxes and uncertainty about Britain’s impending exit from the European Union.
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Jaguar Land Rover Ltd. says it will reduce SUV output in the second quarter of 2018 to offset softening demand caused by higher diesel taxes and uncertainty about Britain’s impending exit from the European Union.
JLR did not specify the size of the production adjustments at its factory in Halewood, which makes Range Rover SUVs. The company produces vehicles at two other sites in England.
Worldwide demand for Jaguar and Land Rover vehicles grew 7% to a record 621,100 units in 2017. But the company’s domestic sales were flat at 117,700 units, and the company says those results aren’t likely to improve this year.
The U.K. is scheduled to raise its excise duty on diesel vehicles in April, a move that will impact about 90% of the JLR’s sales in the country. The carmaker says consumers throughout Europe also are concerned about trends in global trade and the future of piston-powered vehicles in general.
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