China Orders $1.3 Billion Worth of Jaguar and Land Rovers
Wednesday, March 4th, 2009
Here is a bright moment that the British auto industry will really enjoy. China has placed an order amounting to $1.3 billion on 10,000 Land Rovers and 3,000 Jaguars for the next three years. The deal is worth a much needed AUD$1.3 billion dollars and was secured by a Chinese trade delegation during a recent visit to the UK.
The timing couldn’t be better, with economic pressure having forced JLR into a variety of cost-cutting measures in recent times.
Around 2000 jobs have been cut over the past few months, with the remaining 12,000 workers currently in negotiations to secure their employment – albeit at reduced rates.
It’s good news for Tata Group and for the motoring public in general, especially as far as Jaguar is concerned.
(Source) TMR
Tags: auto industry, british auto, chinese trade, jaguar, jaguars, jobs, land rovers, tata group, trade delegation