Jaguar Land Rover Deliveries Increase, Profits Fall After Brexit Hurts The Pound

In the second quarter of the year, Jaguar Land Rover shifted 16 per cent more vehicles than Q2 2015. However, after tax profits fell considerably from $646 million to $399 million as a result of the British voters decision on the referendum concerning their country’s status in the EU.

The threat of a Brexit caused JLR to lose $272 million because of poor exchange rates after the value of the pound plummeted.

Range Rover sales have declined and Land Rover ones rose only by 4 per cent. A massive 76 per cent surge in Jaguar deliveries following the introductions of the XE sedan and the F-Pace crossover, though, more than offset that.

In the three months of April, May and June, Jaguar delivered a total of 31,800 cars while Land Rover hit 100,900, the first time in its history sales have hit the six figure mark.

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