Jaguar Land Rover revenues plunge as firm reports heavy cyber attack costs
Jaguar Land Rover has revealed it has lost nearly £200 million after being hit by a major cyber attack which halted production for over a month.
The Coventry-headquartered car manufacturer, which has large manufacturing bases alongside the M54 near Wolverhampton and Telford, as well as Solihull, has said its performance in Quarter 2 of this year was “impacted by significant challenges” which included the cyber attack in September and the impact of the US tariffs announced earlier in the year.
Jaguar Land Rover (JLR) said today (Friday) as it released its latest financial results that revenue for Q2 was £4.9 billion, down 24 per cent year-on-year, while revenue for the first half of the year was £11.5bn, down 16 per cent year-on-year.
It said revenue was impacted by the production stoppages the company initiated in September after being hit by a cyber incident on August 31.
JLR also reported pre-tax losses of £485 million for the quarter and £134m for the first half of the year, down from a profit of £398m and £1.1bn respectively a year ago, due to the cyber incident and continued impact of US tariffs.
The company cited costs associated with the cyber attack of £196m and £42m for its voluntary redundancy programme announced earlier in the year.
JLR’s CEO Adrian Mardell, however, said the business had “made strong progress” since the cyber incident, with all its manufacturing sites – including factories in Wolverhampton and Solihull in the West Midlands, and Halewood in Merseyside - restarting operations last month and production returning to normal levels.
He said the “speed of recovery is testament to the resilience and hard work of our colleagues”.
In addition to the cyber attack the planned wind-down of legacy Jaguar models ahead of the launch of the new Jaguar also affected revenue, the firm said, adding that its transformation programme launched in June was starting to drive planned cost savings.
Mr Mardell, chief executive officer at JLR, said of the figures: “JLR’s performance in the second quarter of FY26 was impacted by significant challenges, including a cyber incident that stopped our vehicle production in September and the impact of US tariffs.
“JLR has made strong progress in recovering its operations safely and at pace following the cyber incident. In our response we prioritised client, retailer and supplier systems and I am pleased to confirm that production of all our luxury brands has resumed.
“The speed of recovery is testament to the resilience and hard work of our colleagues. I am extremely grateful to all our people who have shown enormous commitment during this difficult time, and I want to thank our clients, retailers, suppliers and everyone in the communities connected with JLR, for their support through this disruption.
“JLR is a great business with strong global brands, a talented workforce and a loyal customer base. We are now set to deliver the outcome of an extraordinary period of British design and engineering, with the arrival of the Range Rover Electric and the new electric Jaguar - cars which will be unrivalled in their performance, design and capability. While we are mindful of the economic, geopolitical and policy challenges that our industry faces, we are resilient and well placed to make strong progress.
“As I approach the end of my 35-year career at JLR, I am immensely proud of what we have achieved together. Leading JLR as CEO over the past three years has been the greatest honour of my career and I am confident that the next chapter will bring continued success for this great business under the leadership of PB Balaji.”
The company said looking ahead JLR remains resilient and well placed to address the economic, geopolitical and policy challenges the industry faces.
