Jaguar land rover stops export of cars to America!
British luxury car manufacturer Jaguar land rover (JLR) has stopped exporting its vehicles to America. This shipment was to be made in the month of April. This step has been taken due to the 25 percent tariff imposed by trump on automobiles. The company said, America is a big market for their luxury brands. We are working on new trading terms with our business partners, so we are taking some short-term action. This also includes stopping export shipments in April.
This is why the company is taking this step
The company said, we are working on our mid to long term plan. According to the ap report, the company has to upgrade the plants for the transition to electric vehicles in view of the decline in demand in the domestic market and now the tariff may take a heavy toll on the company.
Mike Howes, CEO of the UK's Society of Motor Manufacturers and Traders (SMMT), said, "The tariff has been announced at a time when the industry is already facing many challenges. SMMT is in constant touch with the government and efforts are also on to accelerate the trade." Trump's auto tariff came into effect from april 3 Let us tell you that the 25 percent tariff imposed by trump on cars imported into the US has come into effect from april 3. America is a huge market for JLR. In the financial year 2024, about 23 percent of its total sales were in the US markets and all the vehicles were exported from Britain. The US has also imposed a discounted tariff of 26 percent on india from april 2. While 46 percent has been imposed on Vietnam, 34 percent on China, 32 percent on indonesia and 36 percent on Thailand.
Jaguar land rover stops export of cars to America!
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