Lower Profits from JLR Due To Slow Sales

Land Rover from Jaguar gave mixed result in the last quarter in part to the effects of Brexit.

Worldwide sales increased 16% to the company’s volume raised 76% (up to 31,800 cars) in part due to the F-Pace’s popularity. The discussed offering received 4% with 100,900 deliveries. For the first time the model delivered more than 100,000 cars for 3 months.

These numbers show JLR’s slowest growth in these 3 quarters. According to Automotive News Europe, profit after taxes was $399 million (that is 304 million pounds) vs. $646 million (that is 492 million pounds, current rates) in the same quarter last year. Everybody blames Brexit as the devalued pound cost the automaker $272 million (that is 207 million pounds) in losses because of low exchange rates.

Sales are outpacing the worldwide figures in America. Land Rover has provided 57,112 cars in a year through last month. That is a 23% increase over this period of time last year.