Financial Performance and Profitability
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FY2025 Revenue: £29.0 billion, flat year-over-year; Q4 revenue reached £7.7 billion, down 1.7% YoY but up 3.2% over Q3
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Profit Before Tax (PBT): £2.5 billion for the full year, a 15% increase YoY and the highest in a decade
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EBIT Margin: 8.5% for FY2025, best annual margin in ten years
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Net Cash Positive: £278 million at year-end, reaching JLR’s zero net debt target
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Strong profitability reflects higher volumes, investment in R&D, and cost control initiatives
Vehicle Sales and Production
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FY2025 Global Wholesales: Defender achieved record volume at 115,404 units, up 0.7% YoY
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Range Rover Sport wholesales surged 19.7% YoY; Range Rover SV editions increased, supporting global demand
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Global plug-in hybrid sales rose 21.7% YoY, while Range Rover brand PHEV retail jumped 38.2%
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Discovery Sport and Defender grew strongly, while Velar and full-size Range Rover saw volume declines
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New Discovery Tempest and Gemini editions launched; waiting lists for Range Rover Electric exceeded 61,000 units
Regional and Global Sales Performance
| Region | Highlights |
|---|---|
| United Kingdom | Range Rover and Defender commanded luxury SUV leadership and high desirability |
| United States | Temporary export halt in Q2 due to 25% tariffs on British-built vehicles; Defender, produced in Slovakia (25% U.S. duty), remained resilient |
| Australia | FY2025 deliveries reached 8,076 units; Defender up 53.9% to 1,277, Discovery Sport up 40.2% to 136 units, Velar and full-size Range Rover saw declines |
| China | Sales continue to face headwinds; ongoing collaboration with Chery to co-develop Freelander EV portfolio |
| Global | Record Defender volume and sustained Range Rover demand offset weak Jaguar performance and tariff headwinds |
Profitability and Cost Factors
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Profit growth supported by high-margin SUVs (Defender, Range Rover Sport) and reduced depreciation/amortization
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Variable marketing expense increased but offset by improved operating efficiency
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Tariffs in the U.S. and competitive pressure in China and Europe affected revenue growth, mitigated by cost control and electrified model launches
Debt and Liquidity
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JLR achieved a net cash positive position with year-end cash of £278 million
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Strong liquidity and improved debt profile support ongoing investments in electrification and luxury model expansion
Best Selling Models: Overview and Highlights
| Model | Highlights |
|---|---|
| Defender | Record annual volume, 115,404 units globally, best-selling Land Rover model |
| Range Rover Sport | Delivered 19.7% YoY growth on luxury SUV strength |
| Discovery Sport | Robust growth in Australia, global refresh with Tempest and Gemini editions |
| Range Rover | Continued to set luxury SUV benchmarks; 55th anniversary celebrated |
| Range Rover SV | Unique limited editions for global markets, supporting premium brand position |
Weakest Performers and Segment Challenges
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Range Rover Velar and full-size Range Rover experienced YoY volume declines
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Tariff pressures and a temporary halt in U.S. exports slowed sales growth in key markets
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Market share in Australia for 2025 at 0.7% (8,076 units), representing a slight decline versus prior years
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Competing in the EV transition remains challenging as electrified rivals accelerate launches
Key Financial and Operational Metrics
| Metric | FY2025 Value | Notes |
|---|---|---|
| Revenue | £29.0 billion | Flat YoY; Q4 at £7.7 billion |
| Profit Before Tax | £2.5 billion | Highest in a decade (+15% YoY) |
| EBIT Margin | 8.5% | Best annual margin in ten years |
| Net Cash Positive | £278 million | Achieved zero net debt target |
| Defender Sales | 115,404 units | Global record unit volume |
| Range Rover Sport | +19.7% YoY growth | Supported by luxury segment demand |
| Australia FY2025 Sales | 8,076 units | Market share at 0.7% (down slightly) |
Industry Outlook and Strategic Focus
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JLR and Land Rover are accelerating electrification with plug-in hybrids and BEVs, leveraging strong waiting lists and R&D.
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Continued focus on high-margin luxury SUVs and exclusive editions to maintain brand differentiation.
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Expansion in global luxury markets, with growing collaboration in China (Chery EV portfolio) and refreshed discovery models.
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Navigating tariffs and supply chain volatility through operational optimization.
Summary
Land Rover achieved a decade-high profit in FY2025, driven by volume strength in Defender and Range Rover Sport, electrification growth, and robust financial management against tariff and market headwinds. The brand’s luxury focus, electrified product momentum, and positive cash position set the stage for continued resilience and innovation as Land Rover evolves toward next-generation luxury mobility.
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