Jaguar Land Rover Confirms It Has Returned To Profit

Jaguar Land Rover has announced some excellent news: it achieved positive free cash flow and profitability for the three months ended 31 December 2022. This is in part to facilitate the supply of semiconductor chips, a solid vehicle lineup, competitive prices and production of the new Range Rover and Range Rover Sport. A total of 27,456 units were sold during this period, an increase from 13,537 in the previous fiscal quarter.

Q3 pre-tax profit reached £265 million or $328 million according to the latest exchange rates. Again, this is an increase from a loss of £9m ($11.1m) last year. JLR’s third quarter profit after tax was £261m ($323m) after a worrying loss of £67m ($83m).

The automaker’s total volume in Q3 2023 reached 79,591 vehicles, although it does not include units sold under the Chery Jaguar Land Rover joint venture in China.