Jaguar has been going through a rather rough financial situation for some time now. In 2019, the company went to seek $1 Billion after posting huge financial losses. A few months later, the then-CEO Ralph Speth announced that the company wasn’t for sale. Well, Speth is no longer in the company, and while new CEO Thierry Bolloré isn’t up for selling the company just yet, his leadership could result in a contraction of the British automaker’s lineup, as reported by The Sunday Times.
According to “anonymous sources”, Bolloré could consider cancelling the all-electric XJ sedan which is currently under development. The ex-CEO of Renault has raised concerns about the company’s continuous losses, but nipping a car that has already cost the company tens of millions of dollars would be a very bold move. According to The Times, Bolloré is concerned about its limited appeal, which makes sense in the currently SUV hungry market. We saw reports float in July that Jaguar had pushed back the electric sedan’s launch to the third quarter of 2021 in a bid to save cash.
The new electric XJ might not be the only one to get the axe, however. According to the publication, up to six JLR models could be getting chopped off the lineup including the XE and the XF, the automaker’s other two sedans, and a planned Jaguar and Land Rover SUV to be built on the same platform.
When Motor1.com reached out for comment to JLR, the spokesperson replied that the company “does not comment on speculation from anonymous sources about our business.”
It was only last month that Jaguar announced that the XE would no longer be available in the US, also discontinuing the XF sport brake in the Market. There’s a theory that Jaguar’s sedans could be hurting its profitability, while Land Rover has been helping subsidize Jaguar’s operations. The report also states that CEO Bolloré is rumoured to want to move the brand upmarket to compete with Tesla, as well.
