Jaguar’s precarious financial situation is no secret. In early 2019, the company sought $ 1 billion in cash. A few months later, Ralph Speth, then CEO, noted that the company was not for sale. Speth is no longer with the company and, although his replacement, former Renault CEO Thierry Bolloré, is not looking to sell the company, Bolloré could seek to dump a few models from the Jaguar range, according to Le Sunday Times
.The publication, citing anonymous sources, says Bolloré may consider canceling the XJ electric sedan that the automaker is currently developing. It would be a bold move for the new CEO who has voiced concerns over the company’s continued losses. The company has already spent tens of millions of dollars to prepare the new all-electric sedan, although the Times reports that Bolloré is concerned about its limited appeal. In July, a report found that Jaguar had pushed the sedan’s rollout back to the third quarter of 2021 to save money.
Motor1.com contacted JLR for comment on the story, and a spokesperson responded that the company “does not comment on speculation from anonymous sources about our company.” According to the post, up to six JLR models could be on the chopping block, including the Jaguar’s other sedans – the XE and XF. Other coupes could include a planned Jaguar and Land Rover SUV that were supposed to share the same platform.
Jaguar’s financial crisis saw it shake up its local lineup. Jaguar announced last month that it would take the XE off the U.S. market. The company also ditched the XF Sportbrake wagon in the country. There is no doubt that the company’s sedans could hurt its bottom line, as Land Rover helped subsidize Jaguar’s operations. The report also notes that Bolloré would also like to put the automaker up in competition with Tesla.