Jaguar Land Rover had an ambitious expansion planned in China—until consumers there pulled back on big-ticket spending
Jaguar Land Rover was one of the fastest-growing car makers in the U.S. last year, marking a storybook turnaround for the maker of iconic sports cars and off-road vehicles.
But then it crashed. China’s first drop in new car sales in three decades, on top of slumping European demand for diesel-powered SUVs and Brexit uncertainty, dragged down the fortunes of U.K.’s largest auto manufacturer in its 2018 fiscal year. JLR recently reported a full-year loss of £3.6 billion, or $4.6 billion.
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