Jaguar Land Rover posts first profit in nearly two years as sales boom

Jaguar Land Rover has posted its first profit in nearly two years thanks to easing chip shortages and booming sales.

In the three months to the end of December, the luxury car maker made 265million profit, up from last years 9million loss. Revenue rose 28 per cent to 6billion.

Adrian Mardell, interim chief executive, said that chip shortages eased and production and wholesales increased.

Wholesale volumes cars sold to dealerships hit 80,000 units, the highest since early 2021 and 15 per cent more than last year.