{"id":7240,"date":"2019-02-07T16:54:14","date_gmt":"2019-02-07T16:54:14","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/jaguar-land-rover-posts-3-4bn-loss-as-china-demand-slips\/"},"modified":"2019-02-07T16:54:14","modified_gmt":"2019-02-07T16:54:14","slug":"jaguar-land-rover-posts-3-4bn-loss-as-china-demand-slips","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/jaguar-land-rover-posts-3-4bn-loss-as-china-demand-slips\/","title":{"rendered":"Jaguar Land Rover posts \u00a33.4bn loss as China demand slips"},"content":{"rendered":"\n<div property=\"articleBody\">\n<figure class=\"media-landscape no-caption full-width lead\"><span class=\"image-and-copyright-container\"><\/p>\n<p>                <img loading=\"lazy\" decoding=\"async\" class=\"js-image-replace\" alt=\"Range Rover - Land Rover is being displayed for the press members ahead of 97th Brussels Motor Show at Brussels Expo Center in Brussels, Belgium on January 19, 2019.\" src=\"https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/1E4A\/production\/_105545770_gettyimages-1084653788.jpg\" width=\"976\" height=\"549\"\/><span class=\"off-screen\">Image copyright<\/span><br \/>\n                 <span class=\"story-image-copyright\">Getty Images<\/span><\/p>\n<p>            <\/span><\/p>\n<\/figure>\n<p class=\"story-body__introduction\">Jaguar Land Rover booked a loss for the last three months of 2018 as sales collapsed in China.<\/p>\n<p>The company booked a \u00a33.1bn reduction in the value of its plants and other investments leading to a \u00a33.4bn quarterly loss, its biggest to date.<\/p>\n<p>Carmakers are being hit by stronger regulations and demand for cleaner models.<\/p>\n<p>Sales for the quarter were \u00a36.2bn, down from \u00a36.3bn a year earlier. It sold 144,602 vehicles, down from 154,447.<\/p>\n<p>Jaguar chief executive Ralf Speth said: &#8220;Jaguar Land Rover reported strong third-quarter sales in the UK and North America, but our overall performance continued to be impacted by challenging market conditions in China.&#8221;<\/p>\n<p>Excluding the write-down, which affects its balance sheet but has no effect on cash, the company posted a loss of \u00a3273m. <\/p>\n<p>Much of the firm&#8217;s model range is currently diesel-powered, while diesel sales in Europe have been falling. <\/p>\n<p>Jaguar Land Rover, which is owned by India&#8217;s Tata Motors, has embarked on a major restructuring programme to prepare for the future and boost profitability. <\/p>\n<p>It has already announced plans to cut thousands of jobs. <\/p>\n<p>It has now accepted that the value of its existing investments &#8211; such as factories, equipment and model designs &#8211; is substantially lower than previously thought, said BBC business correspondent Theo Leggett<strong>.<\/strong><\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.co.uk\/news\/business-47155145\">Source<\/a> by <a href=\"\">[author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image copyright Getty Images Jaguar Land Rover booked a loss for the last three months of 2018 as sales collapsed in China. The company booked a \u00a33.1bn reduction in the value of its plants and other investments leading to a \u00a33.4bn quarterly loss, its biggest to date. Carmakers are being hit by stronger regulations and &hellip; <\/p>\n","protected":false},"author":0,"featured_media":7241,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/7240","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=7240"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/7240\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/7241"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=7240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=7240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=7240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}