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Jaguar Land Rover Posts 11th Consecutive Profit Quarter Despite Tariff Pressures

Trade deals cutting US import duties to 10% for UK-built vehicles with a 15% cap for EU-built cars promise to ease Jaguar Land Rover’s cost pressures.

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Jaguar is in the process of phasing out petrol and diesel models to relaunch as an electric brand
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Tata Motors EVs | Image: Tata mOtors

Overview

  • Jaguar Land Rover posted Q1 FY26 revenue of £6.6 billion, a 9.2% year-on-year decline, and pre-tax profit of £351 million, down 49.4%, with an EBIT margin of 4.0% and unchanged full-year guidance.
  • The quarter’s performance was weighed down by 27.5% US tariffs on UK and EU-made exports, currency headwinds and the planned wind-down of legacy Jaguar models.
  • A UK-US trade deal enacted June 30 cut export duties to 10% under a 100,000-unit quota, and an EU-US agreement announced July 27 will reduce tariffs on EU-built cars to 15%.
  • Q1 marked Jaguar Land Rover’s 11th straight profitable quarter as it invests £3.8 billion this year and £18 billion through FY29 in its Reimagine Strategy to develop next-generation electric vehicles.
  • Chief Executive Adrian Mardell will retire in November 2025 and hand over the role to P. B. Balaji as part of a planned leadership transition.