London Daily

Focus on the big picture.
Saturday, Jul 26, 2025

Jaguar Land Rover chalks up fresh £9m loss and sees chip shortages extending throughout 2022

Jaguar Land Rover chalks up fresh £9m loss and sees chip shortages extending throughout 2022

The car maker has accumulated losses totalling £421m for the first three quarters of the financial year, to add to three annual loss-making years in a row - but now expects to see the chip shortage "gradually improve".

Jaguar Land Rover, Britain's biggest car maker, has spluttered to a further quarterly loss due to ongoing chip shortages and said the problems would persist for the rest of 2022.

But JLR said the situation had "improved somewhat" from the previous quarter, which was hit by one-off factors such as COVID-19 outbreaks in south east Asia.

The £9m third quarter loss follows a £302m shortfall in the second quarter and first quarter that was £110m in the red.

JLR said 69% of vehicles sold were electric or hybrid


It compares with a profit of £439m reported in the third quarter a year earlier.

JLR said that while production and sales remained "significantly constrained by semiconductor shortages", it continued to see strong demand with global retail orders at record levels.

Revenues of £4.72bn in the third quarter were £1.27bn lower than in 2020 with retail sales of 80,126 down by 38% and wholesales to dealers 33% lower at 69,182.

Meanwhile, its mix of electric and hybrid vehicle sales has risen to 69%, up from 53% in the same period in 2020.

The company, owned by India's Tata Motors, said: "The semiconductor shortage is expected to continue through 2022 but is expected to gradually improve as capacity increases."

JLR also said it was engaging with suppliers to try to secure components on the longer term.

It said that "with this gradual expected improvement" it expected fourth quarter profits to improve compared with the third quarter.

But for 2021/22 to date the losses add up to £421m and if JLR is in the red again for the full year it will be the fourth annual loss in a row for the carmaker.

The company reported a pre-tax loss of £861m for the year to the end of March 2021, after posting a shortfall of £422m a year earlier and a record £3.6bn loss in 2019

JLR has been seeking to improve its financial performance through a transformation programme which it expects to beat targets by delivering £1.4bn in savings in the current financial year.

Chief executive Thierry Bollore said: "Whilst semiconductor supplies have continued to constrain sales this quarter, we continue to see very strong demand for our products underlining the desirability of our vehicles."

The results come after industry figures last week showed UK car manufacturing at its weakest level since 1956 as a result of the chip shortage which has hit manufacturers worldwide.

Elsewhere, electric car maker Tesla has said its performance in recent quarters was held back by the lack of semiconductors and that the issue would extend into this year, even as it delivered an annual profit haul of $5.5bn.

Outside the car sector, Apple swallowed a $6bn blow to sales as a result of the shortages over the Christmas quarter but still managed to top Wall Street forecasts with record sales of $124bn.

Newsletter

Related Articles

0:00
0:00
Close
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
Thai Civilian Death Toll Rises to 12 in Cambodian Cross-Border Attacks
TSUNAMI: Trump Just Crossed the Rubicon—And There’s No Turning Back
Over 120 Criminal Cases Dismissed in Boston Amid Public Defender Shortage
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
Microsoft, US Lab to Use AI for Faster Nuclear Plant Licensing
Trump Walks Back Talk of Firing Fed Chair Jerome Powell
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Irish Tech Worker Detained 100 days by US Authorities for Overstaying Visa
Dimon Warns on Fed Independence as Trump Administration Eyes Powell’s Succession
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Jeff Bezos Considers Purchasing Condé Nast as a Wedding Gift
Ghislaine Maxwell Says She’s Ready to Testify Before Congress on Epstein’s Criminal Empire
Bal des Pompiers: A Celebration of Community and Firefighter Culture in France
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
×