Jaguar Land Rover has posted its first profitable quarter since 2020 on the back of rising sales of its Range Rover line-up, especially in the US.
The Tata-owned company said it earned £265 million in profits before tax in the quarter ending 31 December, up from a loss of £52 million in the same period the year before.
JLR’s last profitable quarter was the last three months of 2020, with the company subsequently dealing with the headwinds of rising costs, shortage of key parts including semiconductors, and difficulty ramping up production of its key Range Rover and Range Rover Sport models.
JLR posted wholesales (sales to dealers) of 92,345 for the quarter, including sales from its Chinese joint venture, up from 89,899 the previous quarter.
