JLR could be losing up to £5 million a day in profit as it continues to suffer the consequences of a devastating cyber attack that shut down its operations on 1 September.
The shutdown of car production in the British firm’s two factories in the UK as well as those in China, India and Slovakia means an average loss of 1000 cars a day, based on normalised production figures, according to David Bailey, professor of business economics at Birmingham Business School. That equates to a daily revenue loss of around £72 million, which, based on current profit margins, could severely impact the company’s earnings.
