Jaguar Land Rover (JLR) has reported a loss before tax of £395 in the three months to 30 June, consistent with expectations.
For the same period last year JLR reported a £264m loss which was down from the £120m profit posted between January and March.
Global retail sales have dropped by 11.6% to 128,615 vehicles, but UK sales were up by 2.6% on the year to 27,1000.
Professor Dr Ralf Speth, chief executive said, “Jaguar Land Rover is in a period of major transformation. We are simplifying our business, delivering on our product strategy and adapting to the tough market environment.
“We will build on our strong foundations and increased operating efficiency to return to profit this fiscal year. In this period, we expect to see the impact of growing demand for new models such as the Range Rover Evoque, Discovery Sport and Jaguar XE, whilst implementing our ‘Charge’ transformation programme.”
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