Jaguar Land Rover experienced a drop in sales during the second quarter of 2015, and is blaming at least part of the slump on damage caused by the massive blast at the Chinese port city of Tanjin this August.
Although sales in China were also affected by the lagging economy there, Land Rover also claims that about 5,800 vehicles stored on or near the port were destroyed by the catastrophic fire.
The luxury carmaker said: “Given the exceptional nature of this event, Jaguar Land Rover is still assessing the damages and it may be some time before the company knows what insurance and other recoveries will be.”
While sales in China are not being helped by the plunge in Chinese share prices, and the devaluation of the country’s currency, the company maintains a positive outlook. Andy Goss, JLR’s sales operations director, says “despite a challenging macroeconomic environment, particularly in China, customer demand for both our Jaguar and Land Rover vehicles remains encouraging.”
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