Business as Usual for Jaguar Land Rover After Brexit
By Carandbike Team
1 mins read
Published on June 24, 2016
- JLR is committed to its manufacturing sites and investment decisions
- Britain currently accounts for nearly 20% of JLR's global sales
- Britain voted to leave the European Union with 52% favouring the split
Jaguar Land Rover said it was business as usual for the company today and it will manage the long-term impact and implications of the decision. A JLR spokesperson said in a statement, "For Jaguar Land Rover, today is just business as usual. We are a British business with a strong manufacturing base in this country, we call Britain home and we remain committed to all our manufacturing sites and investment decisions."
Adding further, the JLR spokesperson said, "Europe is a key strategic market for our business. We remain absolutely committed to our customers in the EU. There will be a significant negotiating period and we look forward to understanding more about that as details emerge." Britain currently accounts for 20 per cent of Jaguar Land Rover's sales globally, not to forget the fact a host of its products are manufactured and exported from the home country.
Considering things won't change overnight, Jaguar Land Rover is confident that it will have enough time to work around its way. The company further stated that it is working closely with the British government and automotive sector to ensure the UK's industry remains as competitive as ever.
Earlier today, Britain voted to leave the 28-nation European Union bloc after 43 years in a referendum. The results showed a near 52-48 per cent split for leaving. With Brexit now a reality, this has changed the dynamics of business and trade globally and will also affect the auto manufacturers with origins in Britain.
Great Deals on Used CarsView All Used Cars
Popular Tata Models
-16000 second ago
The 70 Series from Toyota was first launched in 1984, and the latest iteration combines retro styling with modern technology.
-15847 second ago
New-gen Duster now sits on the CMF-B platform and is offered with turbo-petrol, bi-fuel and hybrid powertrain options.
-14037 second ago
The updated Tesla Model 3 gets the “Active Hood” feature to reduce pedestrian injuries in the event of a collision
-10351 second ago
The selection committee comprising members of the FIM, IRTA and Dorna Sports announced the decision to drop CryptoDATA RNF over repeated infractions and breaches.
-8692 second ago
Subcompact SUV to get refreshed looks and new tech.
-8037 second ago
The news of Rossi's foray into the WEC arrives amid the release of the series' provisional 2024 entry list, featuring 19 cars in the Hypercar class and 18 in LMGT3
-7381 second ago
The 2024 KTM 1390 Super Duke R and top-spec Evo variant packs a larger capacity engine, more electronic aids and a radical new face as part of the upgrades
11 minutes ago
The new system aims to counterbalance Ducati's strategic advantage and address concerns from manufacturers about competitive disparities.
48 minutes ago
It has flashing front lights, a safety car roof bar, a front splitter, Recaro seats, a six-point racing harness, and a fire extinguisher.
1 hour ago
Tata Motors launches its fourth Registered Vehicle Scrapping Facility in Chandigarh, named Re.Wi.Re, with the capacity to dismantle 12,000 vehicles per year
11 days ago
Jaguar Land Rover, reeling from a $4 billion writedown, a slump in China sales and uncertainty around Brexit, said conditions arent right for it to borrow from the bond market and that its seeking alternative funding. The luxury automaker needs to raise $1 billion within 14 months to replace maturing bonds, while feeding an investment program for electric cars thats burning through cash. To support its needs, JLR could increase a receivables facility or turn to other bank financing, with further options including leasing assets and tapping export credit, Treasurer Ben Birgbauer said in an interview.
12 days ago
Air purifiers are important not just for your home but also inside your cars
25 days ago
Tata Motors is set to move into a new segment altogether with its ‘Avinya’ range of electric vehicles, which will utilise Jaguar Land Rover’s Electrified Modular Architecture.
25 days ago
This achievement comes as part of a significant order aimed at supplying, maintaining, and operating 100 electric buses in both Srinagar and Jammu, respectively.
26 days ago
TPEML and JLR, both of which are Tata Motors subsidiaries, have entered into a Memorandum of Understanding for the licensing of EMA for upcoming Tata EVs.