Ineos Automotive Restructuring

[HereinDaRockies]

Damn

 

[Logsplitter]

Only time will tell what that actually means apart from laying off head office staff.
On a side note I wonder how Ineos Kavango are doing. ? It’s gone very quiet on that front

 

[HereinDaRockies]

Only time will tell what that actually means apart from laying off head office staff.
On a side note I wonder how Ineos Kavango are doing. ? It’s gone very quiet on that front

safari vehicles? The addressable market on that is probably dozens of millions per year…

 

[Logsplitter]

safari vehicles? The addressable market on that is probably dozens of millions per year…

The plan with Kavango was to make all Grenadier safari vehicles but they’re too expensive and Toyota is way more popular, so they continue to convert Toyotas along with a few Grenadiers.

 

[Zimm]

Ah oh.

Please open source all the programming before closing the door.

 

[LabRat]

Meh, only time will tell. Lots of hand wringing when Polaris spun out Indian Motorcycles a month or so ago, expect the same now.

 

[Commodore]

Hmmm. Guess we will wait and see.

Sounds like most of these cuts have already happened. Many are attributed to switching from an agency model to a dealer model. Typical shitty messaging from Ineos corporate. Good God I wish they would hire someone competent in PR.

 

[HereinDaRockies]

Hmmm. Guess we will wait and see.

Sounds like most of these cuts have already happened. Many are attributed to switching from an agency model to a dealer model. Typical shitty messaging from Ineos corporate. Good God I wish they would hire someone competent in PR.

How do you know? All I have seen is this or announcement

 

[HereinDaRockies]

Ah oh.

Please open source all the programming before closing the door.

BMW please come in with an offer Jim Radcliffe can not refuse

 

[Commodore]

How do you know? All I have seen is this or announcement

AI pulled info from trade publications that are paywalled

 

[Cncpt2]

• INEOS Automotive, part of the wider INEOS Group , plans to cut “several hundred” jobs from its global workforce of about 1,700. The cuts will focus mostly on office/head-office roles in the UK and across Europe (but reportedly not at its French factory in Hambach as of now, which builds the Ineos Grenadier). The Guardian
• The parent company (INEOS Group) is also under pressure and has announced other job-cuts and plant closures in its chemicals business (e.g., 60 jobs at its Acetyls plant in Hull, UK) citing broader structural headwinds. The Guardian+1
• Specifically for the automotive side, there are reports of major financial losses: the Grenadier business reportedly lost €290 million last year and cumulative losses since 2018 now exceed €1.4 billion. Also, debt for the automotive division (and backing from parent) is significant. Financial Times
• INEOS Automotive is also considering relocating production of the Grenadier from France to the U.S. (in part to avoid 15 % tariffs on European car imports into the U.S.). Current financials and global sales numbers (especially in the US), suggest the automotive division is under significant stress and may not be able to sustain operations in the near future without capital infusion and/or buyout.