Jaguar Land Rover Unsure It’ll Recoup China Sales Lost to Virus
- CEO Speth says demand may not bounce back to previous levels
- ‘Nobody knows how long it will take’ for market to recover
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Jaguar Land Rover Automotive Plc says it may never recoup the sales lost because of the deadly coronavirus outbreak that’s stifled production and kept customers away from dealerships in one of the company’s biggest markets.
“At the moment, we don’t see anything happening in terms of demand in China,” Chief Executive Officer Ralf Speth said in an interview with Bloomberg TV. “Now the question will be: ‘Will this kind of loss of demand be caught up, or will we just see a normal rise in demand?’ Nobody knows and nobody knows how long it will take.”