Jaguar Land Rover: Trump’s tariffs cost car maker millions
Jaguar Land Rover has revealed how much US President Donald Trump’s tariffs have impacted its finances during the first three months of its financial year.
The car maker has confirmed that its revenue in the three months to 30 June, 2025, fell by 9.2 per cent to £6.6bn.
Its pre-tax profit was also slashed by 49.4 per cent to £351m.
Jaguar Land Rover said its revenue was impacted by “significant new US trade tariffs” as well as the planned wind down of the Jaguar brand before its rebrand and switch to electric cars.
The incremental US tariffs impacted the car maker’s profit and costs to the tune of £254m.
The group added that its pre-tax profit was also hit by the tariffs as well as “FX headwinds”.
It has previously welcomed the signing of the UK-US trade deal which reduced tariffs on UK-made vehicles exported Stateside from 27.5 per cent to 10 per cent from 30 June, 2025.
An EU-US trade deal was also announced on 27 July which is set to reduce the tariffs on Jaguar Land Rover’s EU-made vehicles exported to the US from 27.5 per cent to 15 per cent.
The group has pointed to its EBIT guidance of five to seven per cent for its full financial year remaining unchanged.
Jaguar Land Rover ‘grateful’ for UK-US trade deal after tariffs hit
Adrian Mardell, who is to step down as Jaguar Land Rover’s CEO in November, said: “Thanks to our talented people and the robust foundations we have built at JLR, we delivered an 11th successive profitable quarter amid challenging global economic conditions.
“We are grateful to the UK and US governments for delivering at speed the new UK-US trade deal, which will lessen the significant US tariff impact in subsequent quarters, as will, in due course, the EU-US trade deal announced on 27 July 2025.
“Looking ahead, we remain focused on delivering our transformational Reimagine Strategy, including investing £3.8bn this financial year to support the development of our next-generation vehicles, including our stunning new electric Range Rover and Jaguar models.”
The first quarter results come after Jaguar Land Rover announced the retirement of Mardell and the appointment of PB Balaji as his successor.