JLR £2.5B Profit Meets U.S. 100K Tariff Cap

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JLR just posted its best profit in a decade - £2.5 billion before tax - but there's a catch that could change everything for the luxury carmaker.

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The £875 million Q4 profit marked the tenth straight profitable quarter, driven by Defender sales hitting 115,404 units and Range Rover Sport jumping 19.7%.

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Behind the success lies a tariff nightmare: the US-UK trade deal cut tariffs from 27.5% to 10% on UK-built cars, but only for 100,000 vehicles annually.

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Slovakia-built Defenders still face the brutal 27.5% tariff rate, creating a complex puzzle for JLR's global manufacturing strategy

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CEO Adrian Mardell dropped a bombshell: "We cannot discount that building cars in the US could be the case at some point" - a complete strategic shift.

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The US market represents 25% of JLR's global sales, with 129,000 North American units sold last year - too big to ignore despite tariff headaches.

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JLR actually paused US shipments when tariffs hit in April 2025, resuming only after the new trade deal - showing how serious the impact was.

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Bentley CEO revealed the hidden damage: "The worst thing is announcing lower tariffs - all customers say 'I won't buy a car now'" as buyers wait for better deals.

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JLR maintains strong finances with £278 million net cash and £4.6 billion reserves, plus £1.5 billion free cash flow giving them options to adapt.

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India-UK trade talks could slash import duties from 100% to 10%, potentially offsetting US challenges while JLR weighs manufacturing moves across continents.

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