Jaguar Land Rover (JLR) today reported its highest full-year profits in a decade as it welcomed the “greater certainty” resulting from US President Donald Trump easing tariffs on auto imports.
Profit before tax in quarter four of 2024/25 was £875 million, up from £661 million a year ago, and full-year profit before tax was £2.5 billion, up 15% year-on-year – the best for 10 years.
Relief: US auto tariffs down from 27.5% to 10%
In a press statement JLR said: “In April, at the start of the new financial year, we implemented a series of short-term actions to address the immediate impact of trade tariffs introduced by the US administration on the global automotive sector.
“On May 8 we welcomed the positive announcement of a US-UK trade deal. This reduces US trade tariffs on UK auto exports to the US from 27.5% to 10%, within a quota of 100,000 vehicles. This deal brings greater certainty for our sector and stakeholders.”
Tenth consecutive profitable quarter for JLR
Adrian Mardell, JLR chief executive, said: “JLR has ended the year with strong annual and quarterly earnings, including delivering our 10th consecutive profitable quarter and our net debt zero target. We have achieved record sales of Defender, revealed the stunning Jaguar Type 00 and we are preparing to launch the wonderful Range Rover Electric.
“This strong and consistent performance, the commitment of our people, partners and clients and the appeal of our luxury brands will support our response to current global economic challenges including the evolving global trading environment.”
ZEV Mandate change welcomed
JLR added that it “welcomed” the UK Government’s recent changes to the ZEV (zero-emissions vehicle) Mandate. Instead of phasing out sales of all petrol and diesel-powered vehicles by 2030, the mandate now allows hybrid vehicles to be sold until 2035.
