JLR has endured a turbulent operating environment over the last two 29 November 2019 years, led by a troika of adverse macro, product mix (due to pipeline favoring Jaguar) and market mix (due to the underperformance in China led by product quality issues, high inventory, high discounts and low dealer profitability). aforementioned challenges, particularly on product/market mix, are likely to ease based on product pipeline visibility and initiatives undertaken by JLR in China. JLRs product pipeline is dominated by LR, with four of the five new product launches over the next 2-3 years coming from the LR brand. In China, JLR has been focused on (a) reducing inventory (now at lowest levels since 2017), (b) improving dealer profitability and (c) brand-led pull strategy. JLRs cost-cutting initiatives under Project Charge have started reflecting in P&L;, with GBP0.5b of the targeted GBP1b of cost savings achieved till Sep19 and the balance GBP0.5b on track to be achieved in 2HFY20.