Currently reading: JLR profits halved in spring as US import tariffs took hold

Trump's 27.5% import tariffs cost the company £254 million from April-June, before they were reduced

Jaguar Land Rover saw its profits knocked back by half in the three months ending June as US tariffs, warranty costs and a weak dollar took their toll.

The Tata Motors-owned company posted profits before tax of £351 million for the first quarter in its financial year, which runs from April to March. Its profit margin fell to 4.0%, down more than half from 8.9% during the same quarter a year before.

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