Warwick and Leamington MP has concerns about automotive industry following JLR report

That is the view of Warwick and Leamington MP Matt Western after this week JLR reported a £3.6 billion annual loss, amid rumours of a takeover.

He said the effects will be felt across the Warwick district, given that the business is a major employer in the area.

JLR said the losses are maninly due to a slump in Chinese sales.

Mr Western also called again on the Government to take action, adding: “I fear that things will only become more precarious as time goes on.”

The MP said: “I am concerned about the news that an industry staple of this region, Jaguar Land Rover, has reported losses amidst a rumoured takeover.

"Action must be taken by the government to preserve the UK’s automotive industry – which is nothing less than a jewel in the crown of the West Midlands.

“There is a very real, clear and present threat to the industry. It is one of the great paradoxes in business that in seeking to improve air quality, the Government have managed to reverse the progress achieved over many years to reduce carbon dioxide emissions.

“Not only that, but they have also failed to provide the confidence and security that the automotive industry in this country desperately needs.

“Widespread job and profit losses are being announced by sites and manufacturers across the country.”

Prof. Dr. Ralf Speth, Jaguar Land Rover Chief Executive, said: “Jaguar Land Rover has been one of the first companies in its sector to address the multiple headwinds simultaneously sweeping the automotive industry.

“Work is underway at Gaydon to centralise Jaguar Land Rover’s automotive design and product engineering activities. New technology centres have been created in Shannon, Ireland, in Manchester, UK and in Budapest, Hungary.

“The company has returned to profitability in the fourth quarter and already delivered £1.25 billion of efficiencies and savings.

“Jaguar Land Rover is focused on the future as we overcome the structural and cyclical issues that impacted our results in the past financial year.

“We will go forward as a transformed company that is leaner and fitter, building on the sustained investment of recent years in new products and the autonomous, connected, electric and shared technologies that will drive future demand.”