Jaguar Land Rover posts £451m quarterly loss following 4,000 job cuts

Jaguar Land Rover reported revenues of £5.9bn between July and September, but recorded £530m in costs related to cutting 4,000 jobs. The carmaker noted that it would have scraped into a profit from operations without these restructuring costs, though it was also impacted by falling sales in China and the Middle East. In response to mounting pressure, JLR chief executive PB Balaji called for Britain and the EU to work together to face an onslaught of competition from Chinese electric carmakers. The automotive industry is currently lobbying officials to delay new trade barriers and tariffs on electric vehicles as traditional European manufacturers invest heavily in electrification.