"The cyberattack that forced Jaguar Land Rover to shut down its factories is expected to have cost the carmaker more than £3 billion in lost sales over the final quarter of the year. The West Midlands-based group, owned by Tata Motors, revealed that vehicle shipments from its factories plunged by 43 per cent in the three months to December after hackers crippled its IT systems."
"Retail sales, vehicles actually sold to customers, fell by a less severe 25 per cent to 79,600 units over the same period. That gap suggests dealers were able to continue selling stock already on forecourts even as shipments from factories dried up. JLR said the disruption was compounded by the time required to move vehicles through its global distribution network once production resumed."
A cyberattack at the end of August forced Jaguar Land Rover to halt global production throughout September and caused vehicle shipments to plunge 43% in the October–December quarter. Wholesale volumes fell to 59,200 units from 104,000 a year earlier, implying revenues around £4–£4.5 billion versus roughly £7.5 billion previously and a year-on-year shortfall exceeding £3 billion. Manufacturing restarted gradually from October with full output by mid-November, producing a significant delivery backlog. Retail sales fell 25% to 79,600 units as dealers drew on forecourt stock. JLR also paused Jaguar production and delayed new electric Jaguar launches.
Read at Business Matters
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