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Jaguar Land Rover cutting production in face of falling demand

LONDON — Jaguar Land Rover will reduce or stop production on certain days at two of its British factories over the next few weeks as Britain's biggest carmaker pursues cost-cutting measures in response to falling demand. JLR posted a 2.3% drop in retail sales in the three months to the end of December and has targeted billions of pounds worth of savings to tackle falling diesel demand in Europe and a tough sales environment in China. The firm will halt production on selected days over a four-week period from late February at its Castle Bromwich factory in central England and stop production on some half or full days at its nearby Solihull facility until the end of March. "The external environment remains challenging for our industry and the company is taking decisive actions to achieve the necessary operational efficiencies to safeguard long-term success," the company said in a statement. "We have confirmed that Solihull and Castle Bromwich will make some minor changes to their production schedules to reflect fluctuating demand globally, whilst still meeting customer needs." The move is not connected to coronavirus, a spokeswoman said, which prompted Fiat Chrysler to warn on Thursday that a European plant could shut down within two to four weeks if Chinese parts suppliers cannot get back to work. Related Video:

The UK votes for Brexit and it will impact automakers

It's the first morning after the United Kingdom voted for what's become known as Brexit – that is, to leave the European Union and its tariff-free internal market. Now begins a two-year process in which the UK will have to negotiate with the rest of the EU trading bloc, which is its largest export market, about many things. One of them may be tariffs, and that could severely impact any automaker that builds cars in the UK. This doesn't just mean companies that you think of as British, like Mini and Jaguar. Both of those automakers are owned by foreign companies, incidentally. Mini and Rolls-Royce are owned by BMW, Jaguar and Land Rover by Tata Motors of India, and Bentley by the VW Group. Many other automakers produce cars in the UK for sale within that country and also export to the EU. Tariffs could damage the profits of each of these companies, and perhaps cause them to shift manufacturing out of the UK, significantly damaging the country's resurgent manufacturing industry. Autonews Europe dug up some interesting numbers on that last point. Nissan, the country's second-largest auto producer, builds 475k or so cars in the UK but the vast majority are sent abroad. Toyota built 190k cars last year in Britain, of which 75 percent went to the EU and just 10 percent were sold in the country. Investors are skittish at the news. The value of the pound sterling has plummeted by 8 percent as of this writing, at one point yesterday reaching levels not seen since 1985. Shares at Tata Motors, which counts Jaguar and Land Rover as bright jewels in its portfolio, were off by nearly 12 percent according to Autonews Europe. So what happens next? No one's terribly sure, although the feeling seems to be that the jilted EU will impost tariffs of up to 10 percent on UK exports. It's likely that the UK will reciprocate, and thus it'll be more expensive to buy a European-made car in the UK. Both situations will likely negatively affect the country, as both production of new cars and sales to UK consumers will both fall. Evercore Automotive Research figures the combined damage will be roughly $9b in lost profits to automakers, and an as-of-yet unquantified impact on auto production jobs. Perhaps the EU's leaders in Brussels will be in a better mood in two years, and the process won't devolve into a trade war. In the immediate wake of the Brexit vote, though, the mood is grim, the EU leadership is angry, and investors are spooked.

2016 Jaguar F-Type ups warranty, adds standard equipment

The 2016 Jaguar F-Type is getting all-wheel-drive and an optional six-speed manual gearbox. That, of course, has been the big news surrounding the British brand's stylish two-seat coupe and cabrio since it was announced back in November. For 2016, though, Jag has done a lot more than just update the F-Type's powertrain – it's made life easier for the car's future owners. Jaguar has generously upped the complimentary service period for the 2016 F-Type, going from covering the first service only, to handing out five years or 60,000 miles of free maintenance to owners of the 2016 F-Type. That is, frankly, stupendous. That new plan is paired with an extended warranty, which has been expanded from five years or 50,000 miles to match the new complimentary service period. Coventry has also significantly added to the list of standard equipment for 2016, offering a 770-watt Meridian stereo, SiriusXM satellite radio, a SmartKey, 14-way power seats and on the hardtop models, a glass roof. Again, that's all standard equipment now. S models now get the standard dynamic mode, flat-bottomed wheel and active exhaust system. R models, as we said back in November, get all-wheel drive as standard. Most remarkable about all of this, though, is how little the new standard equipment has impacted the F-Type's price. The manual-trans Coupe matches last year's $65,000 starting price, while adding an eight-speed automatic kicks the price up $1,300. The S Coupe is slightly pricier than last year's $77,000 mid-grade model, starting at $77,300 for the manual and $78,800 for the automatic. The all-wheel-drive S Coupe starts at $84,800. The R, which as we said, enjoys standard all-wheel-drive, is getting the biggest price bump, with the Coupe model going from $99,000 to $103,600. The all-new Jaguar F-Type R Convertible starts at $106,450. Beyond that, if you want an F-Type with a canvas roof, add $3,100 to the prices shown above. So there we have it – a longer warranty, five years of free maintenance more standard equipment and a negligible increase in price. Um, why can't all model year updates be so nice? Check out the press release for more on the updated F-Types from Jag. Related Video: JAGUAR HITS THE GAS PEDAL ON U.S. 2016 F-TYPE LINEUP TO RAISE PRESSURE ON THE COMPETITION ? Jaguar ramps up F-TYPE value advantage by increasing standard equipment and features by $3,550 for F-TYPE to $11,850 for F-TYPE R models.