Jaguar Land Rover Posts £485m Loss After Cyber Attack

Jaguar Land Rover, Britain's largest car manufacturer, reported a swing to a £485 million underlying loss in the three months to September, attributing much of the downturn to a major cyber attack that halted production across its factories for five weeks.

The attack struck on August 30, prompting the company to suspend operations starting September 1 at its UK sites in Solihull, Castle Bromwich and Halewood on Merseyside, as well as facilities in Slovakia, Brazil and India. JLR shut down its IT systems to contain the breach, with workers returning to factory floors in a phased restart beginning October 7. All manufacturing sites resumed full operations last month, according to the company.

Revenues for the quarter plunged 24 percent to £4.9 billion, more than £1 billion below the previous year, as the shutdown disrupted global vehicle assembly. JLR booked £196 million in additional costs directly tied to the incident, including expenses for consultants and heightened engineering efforts, though this figure excludes lost sales. The company also recorded £42 million in exceptional costs for voluntary redundancies. For the six months to September, JLR posted a £134 million loss,...