Jaguar Cuts Production on Poor U.S. Sales
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Jaguar Cars said Friday it is cutting production at its three British plants because of poor sales of its luxury cars in the United States, the company's biggest market.
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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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DaimlerChrysler's (DCXGn.DE)  U.S. arm Chrysler will cut its production by around 90,000  units in the third quarter and around 135,000 in the second  half to try to reduce a glut of inventory, the company said on  Tuesday.
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General Motors Corp  said on Thursday its U.S vehicle sales fell 5.2 percent in December as consumer demand softened amid a weak housing market and higher gas prices.
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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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The largest U.S. retailer of used cars posted a lower quarterly profit and cut its outlook for the year, hurt by increased funding costs related to its auto finance unit.
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General Motors Corp. GM.N and Ford  Motor Co. F.N posted weaker U.S. sales for August on  Wednesday and both cut planned fourth-quarter production as  their aging vehicle lineups lost ground to rival Chrysler and  some foreign brands.
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As had been predicted, Ford has announced that car production is to cease at Jaguar&#39;s Browns Lane plant in Coventry , England .
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General Motors Corp. and Ford Motor Co.  posted weaker U.S. sales for August on Wednesday and both cut  planned fourth-quarter production as their aging vehicle  lineups lost ground to rival Chrysler and some foreign brands.
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Ford Motor posted weaker U.S. vehicle sales for August today and cut its fourth-quarter production. Chrysler posted a fifth straight month of stronger results.
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U.S. automakers were expected to report on Thursday that sales finished 2007 weakly, hurt by the housing slump and high gasoline prices, and the resulting worst sales year in a decade for the industry was seen as likely to increase pressure for further production cuts.
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German-US auto giant DaimlerChrysler has slashed its full-year earnings forecasts on the back of anticipated losses at Chrysler -- its struggling US arm.
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Ford Motor Co. F.N on Wednesday said  it was setting first-quarter North American production below  the 2004 quarter's levels as U.S. sales fell again in November.
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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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The nation&#39;s two largest automakers said Wednesday they will reduce production in the first quarter of 2005 after reporting weak November sales.
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JAGUAR will end production at its famous Coventry plant with the loss of 1,150 jobs, it was confirmed yesterday. Bosses blame huge losses at the firm - nearly Â£100million in just three months this year.
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DaimlerChrysler AG  on Thursday said U.S. vehicle sales fell 8 percent in February.