Jaguar Land Rover Droops To £501M Loss!

The Jaguar Land Rover sales had been shattered in the first three months of the year by the ongoing pandemic

Like many other makers, the recent times have been too harsh for Jaguar Land Rover as well. The Coronavirus pandemic and the associated lockdown had shattered the industry as a whole during the first three months of the year. It seems JLR has had no escape from it either. The sales of Jaguar Land Rover vehicles have had steep falls during this span. In a frantic try to cope up with the decline in sales, the carmaker had recently announced 1100 of its jobs to go!

The first three months of the year saw dealerships being closed down due to the pandemic outbreak. JLR sales had drooped to mere 109,869 vehicles globally during this period! This essentially means a hefty £501m pre-tax loss for the company. The serious fall comes in following the Tata Motors-owned brand making a praiseworthy recovery in Q3. On a broader scale, it is a massive £422m pre-tax loss for the manufacturer for the full year, read this against the £3.6bn loss of the previous year.