The UK’s biggest auto manufacturer — Jaguar Land Rover — is cutting 1,000 jobs in its home market as Brexit and slumping sales hit the quintessentially British brand.
Jaguar Land Rover — which is owned by India’s Tata Motors(TTM) — employs about 40,000 workers in the UK who produce over 500,000 vehicles a year.
The company is cutting the jobs at a factory in Birmingham that manufactures the Jaguar F-Pace along with the Land Rover Discovery and various Range Rover models.
It said that a sharp decline in British car sales caused by a loss of consumer confidence contributed to the decision. Jaguar Land Rover’s UK sales in March were down 26% compared to the same month last year. Car sales across the industry were down nearly 16%.
“A final deal that keeps our frictionless trade links with our biggest market, the EU … is now a pressing priority,” Mike Hawes, the head of the UK Society of Motor Manufacturers and Traders, said in a statement last month.
— Ivana Kottasova contributed to this article
CNNMoney (London) First published April 16, 2018: 7:19 AM ET