JLR Reports Q3 Revenue Down 39% Amid Cyber Incident and Tariff Challenges
Jaguar Land Rover's Q3 revenue fell 39% year-on-year to £4.5bn, driven by a cyber incident, legacy Jaguar wind-down, and US tariffs, resulting in a loss before tax of £310m.
£4.5bn
£(310)m
(6.8)%
What Happened
JLR's Q3 FY26 financial results were significantly impacted by a cyber incident that halted production, the planned phase-out of legacy Jaguar models, worsening market conditions in China, and incremental US tariffs. Revenue dropped to £4.5bn, down 39% year-on-year, leading to a loss before tax of £310m. The company expects a strong recovery in Q4.
“Q3 was a challenging quarter for JLR with performance impacted by the production shutdown we initiated in response to the cyber incident, the planned wind down of legacy Jaguar and US tariffs. Thanks to the commitment of our dedicated teams, we returned vehicle production to normal levels by mid‑November, and we are focused on building our business back stronger.”
JLR reaffirmed its FY26 guidance with EBIT margin in the range of 0% to 2% and free cash outflow of £2.2bn to £2.5bn. The company plans to launch the Range Rover Electric and unveil the first new Jaguar in 2026.
Why this matters
The results highlight how cybersecurity risks, market shifts in China, and trade policies can significantly impact an automaker's financial health, even for a major brand like JLR.
Terms in This Story
- EBIT
- Earnings before interest and taxes, a measure of a company's operating profitability.
- RCF
- Revolving credit facility, a flexible loan that a company can draw and repay as needed.
- UKEF
- UK Export Finance, the UK's export credit agency that provides financial support for exports.
Summarised from the linked release; details can be imperfect — always verify against the original source.