New Delhi: Tata Motors Ltd’s UK subsidiary Jaguar Land Rover Plc (JLR) on Thursday reported a 4.6% fall in global car sales to 5,92,708 units in 2018 hit by tough market conditions in China. Jaguar sales in 2018 stood at 180,833 units, a growth of 1.2% over 2017 sales while Land Rover’s declined 6.9% in 2018 to 4,11,875 units.
The data on car sales came amid reports that JLR is set to announce “substantial” job cuts in the thousands as the company faces double-digit drops in demand in China and a slump in sales for diesel in Europe.
“The economic slowdown in China along with ongoing trade tensions are continuing to influence consumer confidence. The impact is being felt across several industries globally,” JLR chief commercial officer Felix Brautigam said.
Despite this, the company continues to work closely with retailers and is taking necessary actions to balance production with demand in order to rejuvenate sales as part of turnaround plan for the business, he added.
In December 2018, JLR sold 52,160 units, a decline of 6.4% as compared with December 2017. Its India sales, however, were positive last month.
The iconic carmaker, which is the UK’s largest automotive manufacturer, said sales during the month were impacted primarily due to ongoing challenging market conditions in China. “JLR continues to work closely with retailers in China to respond to the present market conditions,” it said.