Jaguar Land Rover (JLR) reported a 17% decline in quarterly profit to £523 million, alongside record third-quarter revenue of £7.5 billion, marking a 2% increase in sales year-on-year. Despite this drop, year-to-date profits grew by 7% to £1.6 billion, the best performance in ten years. The company attributed these results to the recent launch of the Type 00 electric vehicle, which spurred global interest. CEO Adrian Mardell noted JLR's strong profitability goals remain in sight despite an economically challenging backdrop, further supported by a significant waiting list for the upcoming electric Range Rover.
Jaguar Land Rover reported a 17% drop in quarterly profit reflecting economic challenges, but it achieved record third-quarter revenue and significant year-to-date profit growth.
JLR's sales rose by 2%, reaching £7.5bn, while total revenue remained flat at £21.2bn over the first nine months, despite a strong year-to-date profit increase.
Adrian Mardell highlighted record profit margins and a substantial order backlog for its first fully electric Range Rover, indicating a strong future outlook for the company.
The launch of JLR's 'fearlessly creative' Type 00 electric vehicle generated global interest, contributing to the company's overall optimistic financial performance amidst challenging market conditions.
Collection
[
|
...
]