Skip advert
Advertisement

Jaguar Land Rover files £302 million loss for Q2 2021

The company mainly attributes the loss to reduced production capacity brought on by the global semiconductor shortage

Land Rover badge

Jaguar Land Rover has filed its financial results for the second quarter of 2021, reporting a loss of £302 million in the last three months alone.

The British brand says the downturn in its finances is partly due to the global semiconductor shortage, which has forced the firm to scale back its production – especially on its fully electric I-Pace SUV and its other plug-in and mild-hybrid electrified vehicles.

JLR expects the shortage will still be a problem into 2022, but it’s expecting the situation to improve during the remainder of this year.

Advertisement - Article continues below

The firm’s short-term future is therefore now closely related to the sales performance of its Defender model. The British brand received 32,000 orders for the new Defender in the second quarter of this year alone, which represents almost 40 per cent of its order bank for the period.

JLR received a record 125,000 orders during the second quarter of 2021 – and the company is hoping to boost sales further with the launch of its fifth-generation Range Rover. On sale now, the luxury SUV is based on an all-new platform and will be available with a plug-in hybrid powertrain. A fully electric Range Rover has also been confirmed to join the line-up in 2024.

Jaguar Land Rover is aiming to reduce the material cost per car it builds by £1,000 over the course of the next year, as well as working to secure a more reliable supply of semiconductors. 

JLR also spent £37 million buying CO2 emissions credits from Tesla, which has helped lower the firm’s average fleet emissions and allowed the company to avoid an £89 million penalty for not meeting the latest standard.

Now click here to read all the latest news on the new 2022 Range Rover…

Skip advert
Advertisement

Find a car with the experts

Skip advert
Advertisement

Recommended

Controversial Jaguar GT draws in buyers despite the fact nobody has seen it!
Jaguar Type 00 (camouflaged) - front 3/4 tracking

Controversial Jaguar GT draws in buyers despite the fact nobody has seen it!

A close-to-production concept of the eagerly awaited EV will be revealed later this year, before the road-going model lands in 2026
News
14 May 2025
Land Rover Freelander on track for a comeback, but the UK will have to wait

Land Rover Freelander on track for a comeback, but the UK will have to wait

The Freelander name will be used for new range of electric cars, initially just sold in China but possibly coming here as well down the road
News
14 May 2025
Land Rover Defender drives JLR profits to a ten year high
Land Rover Defender 110 County - cornering

Land Rover Defender drives JLR profits to a ten year high

JLR prepares for a busy year ahead with the launch of the first electric Range Rover, and the next stages of Jaguar’s rebirth
News
14 May 2025
Classic Land Rovers get all-electric power thanks to Inverted
Inverted Land Rover - front

Classic Land Rovers get all-electric power thanks to Inverted

Inverted has expanded its operation to include Land Rover’s most iconic car
News
1 May 2025

Most Popular

Car Deal of the Day: Sacre bleu! The Renault 5 keeps getting cheaper
Renault 5 - front full width

Car Deal of the Day: Sacre bleu! The Renault 5 keeps getting cheaper

The modern-day Super Cinq comes with a super price. It’s our Deal of the Day for 14 May
News
14 May 2025
Confirmed: New VW Golf GTI will be electric – and it’s a “monster”
VW Golf GTI badge

Confirmed: New VW Golf GTI will be electric – and it’s a “monster”

VW is taking the iconic hot hatchback brand into the electric era with the new Golf GTI EV already in development…
News
13 May 2025
Want a new small car? You probably can’t afford one and car bosses blame the EU
Luca de Meo - Renault 5

Want a new small car? You probably can’t afford one and car bosses blame the EU

Renault and Stellantis bosses demand changes to the emissions rules driving up new car prices
News
15 May 2025