Jaguar Land Rover sales hit by huge blasts at Chinese port
19 October 2015
UK-based Jaguar Land Rover suffered a drop in sales in the three months up to September - partly due to the huge explosions at the Chinese port of Tianjin. JLR had about 5,800 vehicles stored at the port and many were destroyed or damaged during the explosion in August, which also claimed the lives of more than 160 people.
The carmaker said: “Given the exceptional nature of this event, Jaguar Land Rover is still assessing the damages and it may be some time before the company knows what insurance and other recoveries will be.”
The company ended the second quarter of its financial year on September 30 and reported sales of 110,200 vehicles. This was down one per cent year-on-year, with European sales up 34%, sales in North America up 23% and the UK up 9%. Chinese sales were down 32%, and other overseas sales down 12%.
JLR said the incident at Tianjin was the main reason for the downturn in Chinese sales, as well as the slowdown in the country’s economic expansion.
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