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

In the second quarter of the year, Jaguar Land Rover shifted 16

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by Brad Anderson

August 29, 2016 at 11:28

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.