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Corporate Business

Credit Crunch Hits Jaguar Hard

Jaguar has joined a growing list of car makers to cut production as the credit squeeze and economic downturn continue to hit sales. The now Indian-owned company said it was responding to market conditions by “taking a little bit of volume” out of production of the flagship XJ sports saloon – the current model of which is likely to be replaced next year – and the XK sports car. Jaguar would not spell out the extent of the cuts at its Castle Bromwich factory in Birmingham, but The Birmingham Post understands that between 200 and 300 fewer cars will be built between now and the end of the year. That would equate to about a week’s worth of production for both the XJ and XK. Production of the XF saloon car, which has been a huge success since it was […]