Jaguar Land Rover’s Q1 pre-tax profit fell to £109 million as revenue dropped 9.6% year-over-year amid production delays and demand weakness.
Jaguar Land Rover reported a 69% year-over-year decline in first-quarter pre-tax profit to £109 million, missing expectations as revenue fell 9.6% to £6 billion. Wholesale volumes dropped 9.2%, driven by a supplier fire, Middle East market disruptions, and the wind-down of outgoing Jaguar models.
Adjusted EBIT margin contracted to 2.8% from 4% in the same period last year, while free cash flow turned negative at £998 million. The company maintained £1.7 billion in cash and £5.9 billion in total liquidity, including undrawn credit lines.
Range Rover, Range Rover Sport, and Defender accounted for 80.8% of wholesale volumes, underscoring reliance on its luxury SUV lineup amid the transition to new models.