JLR suffers further losses after lengthy cyber attack impact
JLR has reported further steep losses as it continues to count the cost of a major cyber attack last autumn.
The UK’s largest car maker, which has its headquarters in Coventry with plants in Wolverhampton, Castle Bromwich, Solihull and Halewood in Merseyside, booked another £64 million of costs related to the hack, which forced it to halt production across its UK factories for five weeks from September 1.
It said this contributed to it slumping to a £310 million underlying pre-tax loss for its third quarter to the end of December, down from a profit of £523 million a year earlier.
Revenues in the final three months of 2025 tumbled 39 per cent year on year to £4.5 billion as it saw sales volumes impacted by the cyber incident, with production only returning to normal levels in mid-November.
The group said losses were compounded by the ongoing impact of US tariffs, the planned wind-down of legacy Jaguar models ahead of new launches and worsening conditions in China but it said its performance was set to improve markedly in its final quarter.
New JLR chief executive PB Balaji, who took over from former boss Adrian Mardell in November, said it 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".
He added: "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. While the external environment remains volatile, we expect performance to improve significantly in the fourth quarter and we have clear plans to manage global challenges."
This is the latest negative headlines in what has been a troubled few months for the manufacturer, previously known as Jaguar Land Rover.
In December, the firm got rid of Gerry McGovern, the award-winning car designer who had been with the car maker for 24 years after a controversial redesign of the Jaguar brand.
And these new financial results follow losses in its previously quarterly update when it slumped into the red by £485 million, following a 24 per cent drop in revenues.
This has brought its losses for the year to date to £444 million, compared with a profit of £1.6 billion a year earlier. It previously booked £196 million of costs linked to the cyber attack in its second quarter.
It is understood this included the cost of hiring consultants to help it deal with the incident but not the impact of lost sales and other costs, such as increases in engineering costs.
