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Jaguar Land Rover posted a pre-tax loss of £3.4 billion in the final three months of 2018, caused by a massive one-off adjustment in the value of its investments.

Daimler and BMW reduced profit forecasts a year ago amid pressures from the United States-China trade war that has hit vehicle demand, while Hyundai Motor said last month it was letting workers go as it reviews production plans in the world's biggest market.

One problem, according to the presentation, is JLR's dealer network.

Carmakers have been on the frontline of economic pressures in the world's second-largest economy as growth slows, with sales falling in China for the first time in nearly three decades during 2018.

Felix Brautigam, JLR chief commercial officer, said: "We have begun the new year with a stellar start in North America, achieving our best ever January sales and significantly outperforming the industry".

Last month, the company announced plans to slash around 10 per cent of its workforce.

Most of the cuts are expected to be in the United Kingdom, with a voluntary redundancy programme being launched.

Tata said JLR would post an operating loss in the year to March after having previously projected a breakeven.

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Total sales tallied at 144,602 vehicles, down from 154,447 during the same period in 2017. This is a significant increase on its £90m loss in the previous quarter and a £192m profit a year earlier.

Tata Motors' challenges with JLR continued in 3Q as it took a 3.1 billion pound non-cash impairment and even adjusted for this, performance was below expectations. Tata Motors, Jaguar Land Rover owner, says the savings from the program would be reflected in results for the first quarter of 2019.

Carmakers are being hit by stronger regulations and demand for cleaner models.

The company is pinning its hopes of a short-term turnaround on returning to sales growth in China, alongside its cost-cutting programme.

Of the £3.4 billion, £3.1 billion (RM16.30 billion) accounted for the write-down on the value of its investments.

The company continues to invest in new vehicles, electrification, and technology.

JLR has announced that its electric drive units are to be produced at its Engine Manufacturing Centre at the Wolverhampton site.

Dr Speth added: "This is a hard time for the industry, but we remain focused on ensuring sustainable and profitable growth, and making targeted investments, that will secure our business in the future". They are down 52% in the past year on concerns about Jaguar Land Rover's waning sales, profitability and high capital-expenditure requirements.


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