JLR eyes double-digit revenue growth with new models and increased US focus

Source: The Business Desk - Neil Hodgson

Jaguar Land Rover, the UK luxury car manufacturer, has updated its ‘Reimagine’ growth strategy, targeting medium term double-digit revenue growth.

The group, which employs 34,000 staff in the UK and makes cars at three sites in Halewood, Merseyside, and Solihull and Castle Bromwich in the West Midlands, was hit by a six-week shutdown last September after hackers targeted its systems which is estimated to have wreaked almost £2bn-worth of financial damage.

Measures outlined in an update this morning (June 17) included five new product launches including electric Range Rover variants and Jaguar Type 01, a Memorandum of Understanding with auto giant Stellantis focused on the North American Defender market, £1.7bn in cost savings targeting breakeven at 300,000 units, and an £18bn five-year investment commitment by fiscal year 2029.

JLR chief executive, PB Balaji, outlined the next delivery phase of JLR’s Reimagine strategy, which will focus on maximising the strength of the company’s House of Brands, growth and building resilience.