However, Morley said JLR was dealing with wider problems affecting manufacturers around the world, including US tariffs.<\/p>\n
“They sell a lot in America, where the tariffs are impacting them, but I discovered that the average Range Rover sold in America is $100,000 plus, so an extra 10% won’t make a huge amount of difference.”<\/p>\n
He also noted the impact of competition from China.<\/p>\n
“The big issue is electric vehicles because they seem to be streaming in from China and electric vehicles need less people to put them together,” he said.<\/p>\n
He added that he was concerned about Jaguar’s move to become an all-electric brand.<\/p>\n
“Your standard Jaguar buyer is over 50 and is used to petrol or diesel,” he said. “This newfangled electric stuff is not his or her cup of tea.”<\/p>\n
“I worry about Jaguar going forward. I hope I’m proved wrong.”<\/p>\n
Morley said a drop in profits following the cyber attack would also add pressure on the business.<\/p>\n
“They made \u00a32.4bn last year and \u00a314m this year, so it’s a 99% drop in profitability,” he said. “That’s going to have an impact.”<\/p>\n
The cyberattack last September closed all manufacturing for several weeks, which meant not a single vehicle rolled off production lines.<\/p>\n
That led to a 27% drop in overall production at the company, which is one of the biggest employers in the West Midlands.<\/p>\n","protected":false},"excerpt":{"rendered":"However, Morley said JLR was dealing with wider problems affecting manufacturers around the world, including US tariffs. “They…\n","protected":false},"author":2,"featured_media":722442,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[84,59,56,54,55],"class_list":["post-722441","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-gb","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/722441","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=722441"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/722441\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/722442"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=722441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=722441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=722441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}