Jeff Youngs | April 8, 2020
History has shown that when a financial crisis rears its ugly head, consumers react in a predictable manner: They stop buying things. Add a global pandemic, such as the current coronavirus, to the mix and you have a recipe for a significant and sustained jolt to the economy. In times like these, one of the first things consumers cut back on is purchases of non-essential or big-ticket items, such as houses, travel and automobiles – especially those of the luxury variety.
One company facing that challenge is Jaguar Land Rover (JLR), the storied British luxury automaker that sold 125,787 vehicles in the United States in 2019 – an all-time high for the company on the heels of a record 2018. Unfortunately, due to the coronavirus and the associated slowdown in dealer showroom traffic, it looks like there won’t be a three-peat in 2020 in spite of the return of the legendary Defender SUV to the model lineup.
To combat the economic pain the coronavirus pandemic is inflicting, JLR has announced a couple of coronavirus car payment plans and programs to not only help consumers buy or lease a new Jaguar or Land Rover vehicle, but also to provide financial assistance to existing owners who may have been affected by the fallout from COVID-19 and might have trouble meeting their obligations.
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