Jaguar Land Rover (JLR) has reported a £451m quarterly loss for the period between July and September 2026. This figure includes £530m in costs associated with 4,000 job cuts, which were announced near the end of that period amidst challenging trading conditions.
Despite the loss, the company's revenues rose to £5.9bn during the quarter. JLR stated that the majority of the job cuts are expected to be voluntary redundancies, with 3,000 already confirmed and most of those individuals set to leave by the end of November.
PB Balaji, JLR's chief executive, has urged the UK and EU to abandon plans for new post-Brexit trade barriers, citing the "onslaught of competition" from China. He emphasised the importance of fostering the electric vehicle ecosystem and called for collaboration to ensure the system evolves into the world of electrics.
The automotive industry is currently lobbying the UK and EU to delay the implementation of "rules of origin" on 1 January, which could lead to 10% tariffs on UK-EU electric cars using Asian batteries. The EU is also considering "made in Europe" rules that might exclude UK-made cars from subsidies.
JLR, owned by the Indian conglomerate Tata, is now targeting growth in the US and is in discussions with Stellantis to manufacture Land Rovers. The company has begun producing electric Land Rovers, starting with the Range Rover in Solihull, with electric versions of the Range Rover Sport, Defender, and Defender Sport to follow.