Will the future plans of the Jaguar – Land Rover group change?
Jaguar – Land Rover CEO Thierry Ballore resigned yesterday, and Adrian Mardell, the brand’s chief financial officer, will be appointed interim CEO. Adrian Mardell has held various management positions at Jaguar – Land Rover for 32 years.
Jaguar – Land Rover CEO announced his resignation just at this time when the brand went into a bottleneck due to its supply chain. As you all know, there is a serious shortage of semiconductors all over the world, and now the cars, which are formed by the combination of hundreds of sensors, are the machines most affected by this break in the supply chain.
According to reports, Jaguar – Land Rover also does not seem to have made any significant progress in electrification. The JLR group had kept its customers waiting for more than a year for Ranger Rover models, which had a price tag of almost $100,000, and decided to temporarily stop production of some model variants. As you would appreciate, the reason for this is of course supply problems.
The brand has reported losses for seven consecutive quarters, with a $206 million loss last September, according to data from Bloomberg. According to the statement made by the JLR group on November 9, the brand foresees an improvement in sales volumes by March 2023 – in about 6 months.
Bollore, who will remain as CEO of the brand until 31 December, had a different business model regarding the JLR group. Bollore wanted all Jaguar models to be electric by 2025 and a hybrid variant of each of the Land Rover models.