Jaguar cuts production as weak dollar hits key market sales
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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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Housing woes and high gas prices likely combined to send U.S. auto sales to a weak finish in December, capping the industry's worst sales year in a decade and increasing pressure on U.S. automakers to cut production further, analysts said on Wednesday.
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Major automakers reported lower U.S.  sales for December led by a 9 percent slide at Ford Motor Co as  the industry closed out its weakest year in over a decade and  faced the prospect of deeper declines in 2008.
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Sales of GM and Ford cars in the US dropped during August as the industry was hit by a number of factors.
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Cash-strapped Ford Motor Co. took a step yesterday toward selling its Jaguar and Land Rover units when it received an undisclosed number of opening bids for the British automaking businesses.
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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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Luxury carmaker Jaguar said today it is stopping assembly work at its headquarters and cutting 1,150 jobs as a result of overproduction and poor sales in the key U.S. market.
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Hard-pressed luxury marque Jaguar says it will cut about 1,150 jobs at its main plant in Coventry in a bid to return to profits, in another blow to Britain&#39;s fading glory as a carmaking centre.
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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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Japanese stocks closed lower in  broad-based selling Wednesday, with a drop in U.S. shares and a  weaker dollar against the yen prompting investors to take a  breather after the market's recent rally.
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Ford admits its sale of Jaguar and Land Rover is being affected by the markets turmoil, but says the process is not slowing down.
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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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Japan's Nikkei closed down 0.84 percent  Monday after a weak U.S. jobs report kept the dollar near a  five-year low against the yen, helping reverse recent gains in  exporters such as Nissan Motor Co.
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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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Stocks ended lower yesterday as a sharp drop in the price of oil knocked down shares of energy-related companies, while the dollar resumed its decline, dropping to new lows against the euro.
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Toyota Motor Corp., the world&#39;s second- largest carmaker, had an unexpected drop in quarterly profit as investment earnings at its truck making unit fell and a stronger yen cut the value of overseas sales.
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LONDON_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 U.S. market.