Jaguar is to cut production by some 15,000 units over the rest of 2004 amid slack demand.
According to a Jaguar spokesman: "Jaguar is to reduce production volume at its three plants in Britain by a total of some 15,000 units through the remainder of 2004."
Industry analysts said production would be cut to about 120,000 units. "This is a prudent move that will enable us to bounce out our stocks, particularly in the US market, where our performance has been advertly impacted by exchange rates and the increasingly competitive environment among luxury brands," the spokesman said.
Jaguar is part of Ford's stable of luxury brands known as the Premier Automotive Group (PAG). It gave no news on reducing manufacturing capacity at Jaguar's three British plants.