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Under Lyons' leadership: "You mean I get ALL THIS for only ₤₤₤₤!"
had better do it right! If the picture I have created reveals a ‘difficult man’ then I think I’ve got it right. He wants to achieve great things, but there are many tiny elements not working out; many pesky matters, like dealing with falling sales, a lack of attention to the ‘vision for the brands’ and lack of revenue to support investments and big changes. Right now, there is so much to be done, and JLR doesn’t have a visionary CEO, nor the substance in the company to deliver any of the changes for survival. So, yes, I think there’s a very big possibility that JLR (especially Jaguar) will fail - and be ripe for picking up at the right price - Tata Group simply doesn’t have the available cash to save its British baby - although my mole in China tells me Tata has knocked back an offer from China’s Geely.
six consecutive quarters whilst competitors were posting profits. Results for the July to September quarter (2022) reveal a £178 million loss, which adds up to a mind-blowing total for 2022 an eyewatering £697 million! JLR says it has a backlog of 200,000 orders it cannot fulfil - but unfulfilled orders don’t pay the bills, until the customers get their cars. Sales of Jaguar were at 17,340 units in the second quarter (2022) as against 19,248 units in the yearago period, down 9.9 per cent. Land Rover sales are doing better, thanks to the new Range Rover, and continued success of the Defender. But, JLR has not made a profit since 2018, despite bold plans to boost production to more than one million vehicles a year (more on this later) to 02
Let’s look at some of the numbers which make me feel like this challenge is hopeless. In his first few months Bolloré cancelled two BIG programmes - the all-electric XJ and the J-PACE EV SUV. They were signed off and ready to go. The asset and cash write-down is said to have cost JLR £1.5 billion! That also meant that with no new models in the pipeline, Castle Bromwich plant would close, awaiting whatever came along with the ‘Reimagine’ projects. More numbers. JLR is still losing money, with pre-tax losses for 22
EDITION 214 JAGUAR MAGAZINE
