LONDON — Jaguar Land Rover is battling a saturated market in China as the automaker attempts to steady a struggling sales operation that triggered a $4 billion writedown in February, CEO Ralf Speth said. Automakers are “fighting for volume” after the world’s biggest automotive market posted its first annual slide in demand in more than two decades, Speth said in an interview Wednesday. That makes it all the more vital that JLR establish its products at the top end of the market, he said. “We want do it in the premium business way,” he said. “The market is going down, but last year the premium market was nevertheless stable.” The company is overhauling its Chinese dealer network because it provides insufficient exposure to the country’s biggest cities. The February writedown pushed JLR owner Tata Motors to a record loss. Speth said Wednesday that Tata will provide an update when it reports results Monday, but that there is no quick fix for the issue, and he is not prepared to make unlimited sacrifices to stoke volume. “Dealer networks don’t change at the push of a button,” he said on the sidelines of a Financial Times conference in London. “We do not… Read full this story
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