2020-06-16 17:23
Automotive
Alex Lowe

Jaguar Land Rover lost £422 million in the last financial year

Jaguar Land Rover lost £422 million in the last financial year

In the last financial year, Jaguar Land Rover lost £422 million, with the last period ending on the 31st March. Up until the pandemic, JLR had started to recover from previous financial issues and started to turn a profit as sales were up too.

Like all other car companies, JLR has been hit badly by the current coronavirus pandemic which has resulted in a drop in demand. Between January and March, JLR sales dropped by 31% year on year and JLR has said that global demand for products was down by 62.5% in April this year, year on year.

As mentioned, JLR had started out this financial year on a high, with Range Rover Evoque sales up by 24.7% year on year, Jaguar I-Pace sales have increased by 40% as well as other products doing well.

However, the company has said it does expect a recovery, now that a large portion of its retail locations have reopened again, as has its number of factories.

Alex Lowe

Jaguar Land Rover lost £422 million in the last financial year

Alex Lowe is the owner and editor of the interface and started the website in 2013. He publishes the majority of the content on the website, hosts the three podcasts and the runs the YouTube channels. Alex has a professional background in computer networking, FWA and WiFi.

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