theguardian.com 15 days ago URGENCY: 7/10
Jaguar Land Rover's Profit Plummets 99% Amid Crisis
Jaguar Land Rover's annual profit has fallen by over 99% due to US tariffs and a significant cyber-attack. Discover how these challenges are reshaping the future of Britain's largest carmaker.
Financial Turmoil at JLR
Jaguar Land Rover (JLR) has reported a staggering 99% drop in annual profits, with earnings plummeting to just £14 million from £2.5 billion the previous year. This dramatic decline is attributed to a combination of US tariffs and a cyber-attack that severely disrupted operations.
The company faced multiple challenges:
- US Tariffs: Increased tariffs imposed by the Trump administration significantly impacted demand for JLR's luxury vehicles in the US market.
- Cyber-Attack: A major cyber-attack in August forced JLR to halt production, leading to extended operational disruptions.
- Competition in China: The influx of new competitors in the Chinese market further strained JLR's sales.