LONDON - Jaguar Land Rover posted a 6 percent drop in full-year sales on Friday after a challenging year in which its performance was hit by the weakening Chinese car market as well as falling demand for diesel vehicles in Europe.
Retail sales stood at 557 706 vehicles in 2019, hit by a 13.5% slump in China, but in the last six months the firm reported double-digit growth in the country, with overall company sales up 1.3% in December.
"2019 was a year of two halves," said Chief Commercial Officer Felix Brautigam.
"Over the last six months we saw a marked improvement in China, where intensive work with our retailers, combined with significant process and product improvements are starting to gain traction."
At the start of 2019, JLR announced plans to cut around 10 percent of its workforce and it has been pursuing measures to reduce costs and improve cash flows by 2.5 billion pounds.