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Jaguar Land Rover is the latest automotive group to row back on its electric vehicle pledges, with the much-heralded arrival of the next generation all-electric Jaguar now not expected for almost two years.
When the West Midlands manufacturer launched a new strategy entitled Reimagine three years ago, it surprised the market with a commitment to make the Jaguar marque all-electric by 2025.
However, the first of a new generation of electric Jaguars will not be available to buy until late summer 2026 at the earliest. It will make its debut next month, but only in concept form.
The company made no comment on when other electric models might arrive.
In addition, JLR has now admitted that it will be manufacturing conventional combustion engine Jaguars for longer than envisaged, with the F-Pace to stay in production until at least early 2026.
Adrian Mardell, JLR chief executive, conceded that “weaker and inconsistent demand” for electric cars had played a part in the delay and a future launch schedule will be “determined by client acceptance.”
The admission came a day after Bentley, the Crewe carmaker, ripped up its electric pledges and said the group will not go wholly zero-emission until 2035, five years later than planned. It too admitted that its customers currently have no interest in an electric Bentley.
Aston Martin, the Warwickshire manufacturer, still has no firm electric car plans because Aston drivers have no interest either.
The news came alongside JLR’s half-year results, in which the company reported that profits in the second quarter had fallen 10 per cent because of aluminium supply shortages that have also affected big German manufacturers. For the six months to the end of September, profits were still up by 25 per cent at £1.1 billion on flat revenues of £13.7 billion.
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Over the six-month period, JLR volumes were down 5,000 to 185,000, entirely due to the rundown of the existing Jaguar model range.
On the Jaguars of the future, Mardell said: “Volumes will be much lower, transaction prices will be much higher and the number of retail outlets will be much fewer.”
Indicating that the group is focusing on its Range Rover and Defender brands, Mardell said: “Investment in Jaguar will be proportionate to the size and scale of the opportunity. There will be less investment in Jaguar than there was ten years ago.”