Jaguar to Cut Output Amid Slack Demand
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British carmaker Jaguar will cut  production by some 15,000 units over the rest of 2004 amid  slack demand, a Jaguar spokesman said on Friday.
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DETROIT -- Faced with vehicles languishing on its US dealer lots, DaimlerChrysler AG said yesterday it will slash retail deliveries by nearly 24 percent in the third quarter.
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Chairman Joe Greenwell says Jaguar cannot be profitable with car making at three British factories. Picture:AFP. Ford, the second-largest US car maker, has raised its third-quarter earnings
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Chrysler said it would cut its production schedule for the rest of the year by 16 percent because of slumping sales as a result of high gas prices.
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"I don't think anybody's going to bid cold, hard cash for Jaguar"  Cash-strapped Ford Motor Co. took a step toward selling its Jaguar and Land Rover units on Thursday when it received an undisclosed number of opening bids for its British automaking businesses.Thursday was a deadline to submit early bids, but Ford said no sale is imminent.'We've had contacts from third parties, and we're actively evaluating them as part of our strategic review,' John Gardiner, a Ford spokesman in London, said Thursday. 'They've only been preliminary discussions, and no decisions have been made.' Read more
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DETROIT Refocusing on its core business, Ford Motor on Friday unveiled the beginning of a restructuring plan for its struggling Jaguar division, closing the unit&#39;s main plant and putting its Formula One racing business up for sale.
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Jaguar car production is to end at a plant in Coventry, Warwickshire, with the loss of more than 1,000 jobs because of weak demand for the luxury brand, US parent company Ford announced.
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Another disappointing sales month at General Motors Corp. and Ford Motor Co. led the nation&#39;s two largest automakers to cut planned vehicle production in the fourth quarter, which could hurt profits.
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Jaguar said yesterday it would cut production by about 15,000 cars, or 11%, for the rest of the year in response to weak sales in its key market of the US.
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Ford motors yesterday blamed Jaguar, the iconic British luxury car manufacturer, for the bulk of its huge losses in its upmarket car division, saying it was forced to axed 1,150 jobs in the UK to save the business from ruin.
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Ford will inject Â£534m into Jaguar, after the UK car maker had to cover a writedown on its investments following a drop in production.
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By Christopher Hope Business Correspondent (Filed: 28/08/2004). A question mark is hanging over the future of Jaguar&#39;s three British plants, which employ 7,500 staff, after its owner Ford said it was cutting
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Ford Motor Co., the world&#39;s second- biggest carmaker, plans to cut production of Jaguar cars by 15,000 units this year to trim losses at its European luxury-vehicle unit.
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US car giant Ford is expected to tell Jaguar workers on Friday that it will close the firm's historic Coventry factory
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Luxury carmaker Jaguar said Friday it was stopping assembly work at its headquarters and cutting 1,150 jobs as a result of overproduction and poor sales in the key US market.
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Navistar International Corp. ,  the U.S. diesel engine maker, said on Monday it would lay off  nearly 400 workers after Ford Motor Co. , one of its key  customers, announced it was cutting fourth-quarter production  by 20 percent.
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Jaguar is to halt production at one of its plant in Coventry, central England, with the loss of more than 1,000 jobs, because of weak demand for the luxury brand, US parent company Ford announced.