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Editor/Photographer : Mark Charles

 

August 18 2004

Plans to cut Jaguar production.

Ford plans to cut Jaguar car production this year in an effort to trim losses at the European luxury-vehicle unit that also makes Land Rover, Aston Martin and Volvo models according to a report issued by Bloomberg a
few hours ago.

Slower sales and higher costs contributed to a $362 million second-quarter pre-tax loss at Premier Automotive Group, which sells cars such as a X-Type, or "Baby Jag," aimed at winning new Jaguar buyers. The group, which Ford has said may lose money this year after earlier projecting pre-tax profit of as much as $600 million, is preparing a "recovery plan" Hume said.

Jaguar's loss and the production cuts "reflect softer-than- expected demand, particularly in the U.S., across all the models, the impact of a weaker dollar and the increasing competitiveness among the luxury brands," Hume said.

Ford Chief Financial Officer Don Leclair in July said the company was "evaluating" Jaguar's "business structure." He declined to specify possible actions. Jaguar operates three U.K. assembly plants. Leclair said then that within Premier Automotive Group, Volvo was the only profitable brand, meaning the loss came entirely from Jaguar, Land Rover and Aston Martin.

"We have been in discussions with Ford since May" on potential production cuts at Jaguar and Land Rover, said Claire Ainsley, a Transport & General Workers union spokeswoman. She declined to provide any details, saying the discussions hadn't yet been concluded.

Original story at:
http://quote.bloomberg.com/apps/news?pid=10000102&sid=aZJuUyBAGDDw

Ford on Thursday reportedly said it had not ruled out plant closure at its UK-based Jaguar operations as it prepares a restructuring plan for the troubled luxury car unit and its 10,000-strong British workforce.

According to the Financial Times (FT), the loss of any of Jaguar's three UK plants would be an embarrassment for the British government, which worked hard to encourage Ford to invest in new facilities in the West Midlands and Merseyside to compensate for the loss of other local manufacturing jobs.

Don Leclair, chief financial officer, told the paper Ford was working on a restructuring for Jaguar, hit by surprise losses in the second quarter on a sharp drop in sales in the US - its biggest market.

Leclair reportedly said there would be "fundamental, but not extensive, changes" at Jaguar. Asked whether this could include closure of any UK plants, he said: "Everything's on the table. We are looking at the whole business and we'll get it right."

As part of the restructuring, Ford is to cut production at Jaguar's UK plants. Unions have been told that all three of the company's UK plants are likely to be affected. The precise level of cuts, and how they will be implemented, would be determined in the next few days, a UK-based official told the FT.

The paper said Jaguar has suffered because its manufacturing operations are sterling-based but its biggest market is the US and the dollar is weak against British currency.

Sales have also been suffering because of slow demand for its new XJ saloon amid a fierce price war between premium marques in the US, the FT added. Jaguar's US sales in July were 24% down on 12 months earlier. In Europe, it has suffered from sales being concentrated on its smaller, less profitable cars, with diesel models unavailable until recently.

Leclair reportedly said in an interview in New York that Jaguar's main problem was its sales performance rather than costs, but the reason for disappointing sales remained a mystery. "One reason sales have been slow is because we have not launched the long-wheel base version [of the XJ in the US]," he said. "We are still trying to understand what else is going on."

The Financial Times noted that the ‘small’ Jaguar, the X-Type, is built at Halewood on Merseyside, while the S-Type is built at Castle Bromwich, Birmingham and XJ saloons and XK sports cars at Brown's Lane in Coventry.

Although global sales are running 11% higher than a year ago, the 125,000 Jaguar cars sold last year fell well below expectations. Ford had projected that Jaguar would earn $US500 million (£275 million) this year, but now expects it barely to break even, the Financial Times (FT) said.

Headlines

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Jaguar reveals the new generation X-type

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Spied: Jaguar XF-R

'Jaguar' badge for the chop - designer

Revealed - The all-new 2009 Jaguar XF

O’Driscoll replaces Boerio as Jaguar MD

Jaguar collects customer service plaudits

Jaguar take sthe number one position in the 2007 J.D. Power study

Ford readies Jaguar and Ford for sale

Roger Putnam receives CBE

2007 Jaguar XK wins Autonerve magazine "Best Convertible" award

Jaguar X-typenamed top aspirational luxury car

Jaguar XKR convertible tops 2007 best road trip car list

Jaguar XJ named one of the safest cars

Robert Motors celebrates 25 years of success

The all-new Jaguar C-XF

The all-new Jaguar C-XF revealed

2006 Headlines

S type revised

Top Gear crowns Jaguar XK 'Car of the year 2006

Jaguar cars announces the new Jaguar XF

Jaguar Canada announces all-new-2007 XKR coupe and convertible pricing and option packges

Jaguar USA announces 2007 XKR coupe and convertible pricing and option packages

Jaguar supports home show with global debut of supercharged XKR

Jaguar announces its new advanced vehicle entertainment technology

Callum brothers win 2006 Jim Clark memorial award

Jaguar XJ voted best large executive car at the Auto Express Used Car Honours 2006

Jaguar Land Rover North America announces new vice president of customer service

Jaguar sells off Browns Lane site

AAA names the Jaguar XJ8L as top car pick for 2006

Ford says of Jaguar - safe in our hands

The new Jaguar XK winner of "What Car?" award

Jaguar announces all-new 2007 XK coupe and convertible pricing

2005 Headlines

Jaguar reveals all-new XK convertible

All-new Jaguar XK premieres world-first deployable bonnet system

All-new Jaguar XK is unveiled atFrankfurt show

Jaguar unveils all-new XK sports car

Jaguar announces new vice president

Tne new XJ 2.7 diesel and 2006MY XJ range

Jaguar brings tpgether emerging artists

Daimler returns with an all-new model, the Super Eight.

Geoff Polites is appointed CEO of Jaguar

June sales

New XJ 2.7 Diesel and 2006MY XJ range

Jaguar announces mobility program

Jaguar XJ wins best luxury car in the 2005 fleet world honours

Jaguar cars for Jaguar cats

April Newsletter

Ford's newest atShanghai

Jaguar revises prices for 2005 S-type and XJ models

Jaguar appoints new global Advertising Agency

February newsletter

Jaguar XJ6 wins award

Jaguar X-type diesel even more tax efficient

Tim Watson appointed new communications chief

Jaguar's best ever year in Europe

Jaguar advanced lightweight coupe makes world debut

Limited edition Jaguar XK 'VICTORY'

Jaguar Canada sales reports

2004 Headlines

More job losses likely say unions

Bonspeed X type at SEMA, Las Vegas

Jaguar scoopsScottish luxury and diesel categoryawards

Japanese Grand Prix - Preview

Jaguar Canada reports September sales

Chinese Grand Prix – Race

Chinese Grand Prix – Saturday Qualifying

Chinese Grand Prix – Friday Practice Sessions

Jaguar workers stalk Ford in Paris

Jaguar workers back call for industrial action ballot

Jaguar to drop British Racing Green

Jaguar leaps forwardin 2004 in
J.D. Power study

Jaguar North America expands conservation trust

Jaguar question to be put to Commons

Jaguar production to end at Browns Lane

Jaguar cuts production due to poor US sales

Belgian Grand Prix - Race

Belgian Grand Prix - Qualifying

Belgian Grand Prix - Practice

Belgian Grand Prix - preview

Jaguar factory capacity cut announcement "weeks away"

Jaguar fears on factory closure

Jaguar North America dedicates its archives

Job cuts "unlikely" at Jaguar

Jaguar team to be come Ford?

Jaguar exhibits the iconic E-type at the design museum

Plans to cut Jaguar production

Jaguar "People Solutions" in the frame for prestigious award

European Grand Prix - Qualifying

European Grand Prix - Practice

European Grand Prix - Preview

Jaguar at design festival

Steinmetz& Jaguar Racing

Monaco Grand Prix - race

Monaco Grand Prix - qualifying

Monaco Grand Prix - practice

Monaco Grand Prix - preview

‘The movies’ meets Jaguar

Jaguars invade Normandy

Spanish Grand Prix - race

Spanish Grand Prix - qualifying

Spanish Grand Prix - practice

Spanish Grand Prix - preview

Jaguar U.S.announce executive appoinments

April 2004 U.S. sales

2003 Headlines

"Browns Lane plant to close" rumour

Jaguar select edition captures award

Jaguar racing engine makes successful debut

Japan Grand Prix

X-type estate makes its debut at Frankfurt

Jaguar R-D6 concept unveiled at Frankfurt

Hungarian Grand Prix

The New Jaguar X-Type Estate

Jaguar opens new test centre at the Nürburgring

TWR history goes under the hammer

French Grand Prix - Saturday Qualifying

The new X-type 2.0D.

Canadian grand prix - preview

Jaguar to premiere new V6 diesel engine

New Jaguar sports car sets the pace

Jaguar boss announces retirement

Lap record eases heat on Jaguar

TWR is placed in receivership

Canadian debut of the 2004 XJ sedan

Jaguar Daimler Heritage Trust at Techno Classica Essen

XKSS sells for $1.1 million

Jaguar to temporarily suspend X-type production

New XJ prices released

Jaguar R4 unveiled

F1 car launch

2002 Headlines

XKSS for sale at auction

Driver change at F1 team

Indianapolis X type

Jaguar from latest Bond film at British Motor Show

New XJ released

Revised XK released

Jaguars at Monterey

Changes in management line-up

F type on hold

New XJ8 for 2003

Morse Mark 2 sells at auction

Jaguar announces expanded 2002 Trans-Am Series Contingency Award Program

Jaguar Heritage on display at Techno Classica Essen

400 bhp S type R launched

Jaguar Racing unveiled its 2002 challenger, the Jaguar R3

2001 Headlines

XJ13 not for sale

Bike ace signs for Jaguar

New 2 litre X type

Jaguar Racing and ChevronTexaco to end their technical relationship

Frank Sinatra's XJ40 sold at auction

New MD for Jaguar Racing

Changes at the top

Jaguar presents the R Coupe concept

Two new special editions

New organization for North America

New XJ6 test vehicle

F-TYPE roadster production to go-ahead

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