Jaguar Land Rover cuts 1,000 jobs inside UK

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The UK’s biggest auto a new — Jaguar Land Rover — is usually cutting 1,000 jobs in its home market as Brexit in addition to slumping sales hit the quintessentially British brand.

Jaguar Land Rover — which is usually owned by India’s Tata Motors (TTM) — employs about 40,000 workers inside UK who produce over 500,000 vehicles a year.

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The company is usually cutting the jobs at a factory in Birmingham of which manufactures the Jaguar F-Pace along with the Land Rover Discovery in addition to various Range Rover designs.

the item said of which a sharp decline in British car sales caused by a loss of consumer confidence contributed to the decision. Jaguar Land Rover’s UK sales in March were down 26% compared to the same month last year. Car sales across the industry were down nearly 16%.

Brits have cut back on big-ticket purchases as their wages have been squeezed by a rise in inflation, a side effect of the Brexit referendum in 2016. A sharp drop inside pound following the vote made imported products more expensive in addition to ultimately caused inflation to spike above 3%.

Jaguar Land Rover factory 01
Jaguar Land Rover, the UK’s biggest auto a new, is usually cutting jobs at a factory in Birmingham.

Related: Elon Musk promises Tesla will soon make money

Demand for Jaguar Land Rover cars has also fallen in Europe due to fallout through the diesel emissions scandal.

Jaguar Land Rover pointed out of which “the huge drop in demand in diesels” led to its decision not to renew the contracts of 1,000 workers.

European governments are looking to clamp down on diesel sales after an outcry over the environmental damage caused by the engines. This particular has even led to calls for bans on heavily polluting diesel cars in some cities.

Drivers are holding off buying brand new diesel cars as they await clear government guidance on the future.

Related: German cities could ban some diesel cars

The UK’s auto manufacturing sector employs over 800,000 workers yet Brexit presents a big risk to the industry.

Carmakers rely on free, frictionless trade to get parts in addition to make sales across the 28 nations inside European Union.

Jaguar Land Rover CEO Ralf Speth said earlier This particular year in an interview with Reuters of which Brexit uncertainly was “definitely challenging” his company in addition to the auto industry as a whole.

“You hardly see inward investment any more or every decision is usually taking longer,” he said.

Auto makers are concerned of which Brexit could lead to brand new tariffs, taxes in addition to transit slowdowns at the UK border.

“A final deal of which keeps our frictionless trade links with our biggest market, the EU … is usually right now a pressing priority,” Mike Hawes, the head of the UK Society of Motor Manufacturers in addition to Traders, said in a statement last month.

— Ivana Kottasova contributed to This particular article

CNNMoney (London) First published April 16, 2018: 7:19 AM ET



Source : Jaguar Land Rover cuts 1,000 jobs inside UK