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Birmingham Post
Birmingham Post
Business
Jon Robinson

Jaguar Land Rover blames 'unfavourable' inflation and wholesale drop for £524m losses

Jaguar Land Rover lost £524m before tax during its latest financial quarter as its revenue dropped by £600m.

The automotive giant has posted a revenue of £4.4m for the three months to the end of last month, down 7.6% from the same period in 2021.

JLR said its losses "primarily reflect" the lower wholesale volumes as well as "unfavourable" inflation of £161m and currency and commodity revaluation of £236m year on year.

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