London, July 12 - Jaguar Land Rover, the British carmaker owned by India's Tata Motors, is planning an extended shutdown of its British plants and a new round of layoffs as it tries to deal with the slump in the world car market, a media report said Sunday.

The preparation for the shutdown comes days after the company released its new flagship, the latest version of the Jaguar XJ, Sunday Times reported.

Management at Tata Motors hope the new car, which goes on sale in Britain early next year, will boost the dwindling sales.

In June, Tata Motors said mounting losses at Jaguar Land Rover had pushed it into its first annual loss of $522 million in seven years, and warned of drastic cost-cutting.