Vertu Motors forecasts £5.5 million profit drop due to Jaguar Land Rover cyberattack
Kyiv • UNN
British car dealer Vertu Motors expects its annual profit to be reduced by £5.5 million due to disruptions at Jaguar Land Rover caused by a cyberattack. The biggest losses were incurred in September, a key month for the British car market.
One of Britain's largest car dealerships, Vertu Motors, has warned of a possible reduction in annual profit by up to £5.5 million after massive disruptions to Jaguar Land Rover (JLR) operations. The reason was a cyberattack on the premium car manufacturer, which paralyzed the company's production facilities in the UK. This was reported by Independent, writes UNN.
Details
Vertu Motors said that the cyberattack on Jaguar Land Rover led to significant disruptions in the operation of its car dealerships, due to which a one-time reduction in pre-tax profit of up to £5.5 million is expected. The biggest losses were incurred in September, which is key for the British car market due to the change in registration numbers.
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For the industry, this was a serious disappointment, because September is the month when we usually record the highest sales
After the cyberattack, which affected JLR's supply chains, production at the company's British plants was temporarily halted. Some operations are planned to resume in the coming days, but Vertu warns that a full recovery of systems may take time.
According to the company's estimates, losses from disruptions in September alone amounted to about £2 million. At the same time, Vertu's adjusted pre-tax profit for the six months to the end of August was £20 million, which is 10% less than last year.
Despite the difficulties, Vertu recorded record half-year sales - £2.51 billion compared to £2.47 billion in 2024. The largest growth was noted in the electric vehicle segment, where sales increased by 82.4%.
According to government requirements, by 2025, 28% of new cars must be electric vehicles, and by 2030 - 80%. This transition, according to Forrester, creates additional pressure on manufacturers and dealers, leading to a "general decline in new car sales in the country."
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