Jaguar Land Rover is right on Brexit. But cars cant save Birmingham
Posted on by Jessica Harington
Land Rover Near-Future Concept To Appear In “The First” On Hulu
For a pedestrian, “Its second-nature to glance at the driver of the approaching vehicle before stepping into the road,” says Pete Bennett, Jaguar Land Rovers Future Mobility Research Manager. So understandably, even if youve got the light, you may be hesitant to cross the road if you see that a waiting car has no driver behind the wheel at all. Thats why JLRs designers have added the following feature to a series of test vehicles at a facility in Coventry:
“The intelligent pods [are] run autonomously on a fabricated street scene in Coventry, while the behaviour of pedestrians is analysed as they wait to cross the road. The eyes have been devised by a team of advanced engineers, working in Jaguar Land Rovers Future Mobility division. The pods seek out the pedestrian – appearing to look directly at them – signalling to road users that it has identified them, and intends to take avoiding action.”
Warning comes just two days after the boss of Jaguar Land Rover attacked Theresa Mays Brexit strategy
The impact of the pain at Jaguar Land Rover is spreading through the UK automotive supply chain as Ricardo, the engineering consultancy, admitted that its profits had been hit by the decline at Britains largest carmaker.
We have been affected by the decline in car sales at Jaguar Land Rover and Ford, Dave Shemmans, chief executive of Ricardo, said.
We have seen the impact of Brexit on the retail market and consumer confidence and the high percentage reduction in diesel sales. That has meant a drop-off in work for us designing engines, working on new models and electrification. [Jaguar Land Rover and Ford] are pulling in their belts. They have a desire to do more in-house.
The company has a USD 500 million bond maturing in February 2023 with a 5.625 coupon, and a USD 700 million issue priced at 4.125 per cent and maturing in December 2018,another 400 million pound priced at 5 per cent in February2022, another 400 milling pound (3.875 per cent) note for March 2023, USD 500 million (4.25 per cent) for November 2019;USD 500 million (3.5 per cent) for March 2020; 300 million pound (2.75 per cent) for January 2021. It also has a 650 million euro issue priced at 2.2 percent maturing in January 2024, 300 million pound (2.75 percent) for January 2021; and USD 500 million (4.5 per cent) not for October 2027, Fitch noted in the report.
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Earlier this week JLR had warned of production cuts and more problems if Brexit did not materialise the way it has been planned. The agency cited a likely increase in JLRs negative cash flow in the next two years due to the falling profitability and the risks from Brexit as it sells around 20 per cent of its volumes in the EU markets. JLRs product portfolio is also heavily biased towards diesel, which accounts for 90 per cent of its sales in Europe, while sales of diesel power train are falling in Europe.