London EV Company (LEVC) has announced it will cut approximately 180 manufacturing jobs at its Ansty site due to a significant decline in sales and increasingly challenging automotive conditions. Demand for electric hackney carriages has been affected by rising costs and ongoing reductions in the number of drivers, prompting the need for restructuring to ensure the future of the London black cab.
Jaguar Land Rover's quarterly sales fell by more than 10%, with total units sold decreasing from 97,755 to 87,286 compared to the same period last year.
Burberry's full year results revealed a 12% drop in like-for-like sales with an operating profit down 94%, highlighting extensive challenges as the luxury sector struggles.