At a glance
- Wholesale shipments down 43% year over year to 59,200 vehicles in calendar Q4 2025 (JLR fiscal Q3 FY26) after cyberattack-related plant shutdowns.
- Retail sales down 25.1% year over year to 79,600; down 6.7% from the prior quarter.
- Full financial results expected in February 2026; Motor Trader reporting points to “lost billions of pounds,” including a prior estimate near £1.9 billion.
Regional performance
- North America: Wholesale -64.4% YoY; retail -37.7%.
- Europe: Wholesale -47.6%; retail -26.9%.
- China: Wholesale -46.0%; retail -18.4%.
- Overseas: Wholesale -50.4%; retail -14.1%.
- Middle East and North Africa: Wholesale -8.5%; retail -18.7%.
- U.K.: Wholesale -0.9%; retail -13.3%.
Context and drivers
JLR disclosed an October cyber incident that forced factory shutdowns during the quarter, curtailing output and reducing vehicles available for wholesale shipment. Recovery efforts to restore systems and stabilize production continued through year-end.
Inventory and sales dynamics
The sharper contraction in wholesale versus retail indicates dealers drew down existing stock to meet demand, tightening near-term availability and potentially extending customer wait times until production normalizes.
Year-to-date view
Through the first three fiscal quarters, retail volumes totaled 259,400 vehicles, down 19.1% year over year.
Implications and what to watch
- Near-term supply to dealers is constrained, with the steepest gaps in North America and parts of Europe.
- Inventory rebuild depends on how quickly plants return to normal schedules and how production is allocated across regions and model lines.
- February results should clarify production status, any lingering bottlenecks, and the financial impact of response and remediation.
