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Jaguar Land Rover experienced a 42% drop in sales in the midst of the coronavirus crisis.
The most recent quarterly figures from the car manufacturer Midlands, which has facilities in Castle Bromwich, Solihull and Wolverhampton, relate to the three-month era from April to the end of June.
Jaguar Land Rover sold 74067 vehicles, 42% less than in 2019, BusinessLive reports.
Losses at the time amounted to 413 million pounds to revenues of 2.9 billion pounds, a decrease of just 18 million pounds from year to year, and EBITDA margin of 3.5% with 500 million pounds of stock load, prices that particularly offset declining sales.
The free money was negative through 1.5 billion pounds, adding a unique operating capital of 1.1 billion pounds as a result of plant closures, which is approximately 500 million pounds more than in the previous forecast.
During the period, the company effectively completed 647 million pounds of new financing and ended the quarter with liquidity of 4.7 billion pounds, adding 2.75 billion pounds of money and short-term investments and an unused renewable line of credit of 1.9 billion pounds.
Sir Ralf Speth, CEO of Jaguar Land Rover, who will resign next month, said: “Jaguar Land Rover has responded with resistance and agility to the usual and demanding situations it faces in the first 3 months of the new monetary year, temporarily adapting to the widespread situation. Macroeconomic situation. -The economic shocks and uncertainty facing our industry.
“During this unprecedented period, we continued to market new vehicles, electrifying our award-winning line and generating a call for the new Land Rover Defender, a reinvented icon for the virtual age.
“As the blockade eases, we will exit the pandemic with our maximumly complex product line to date and monetary and operational measures in a position to return to long-term sustainable gains.”