Jaguar warns ministers that preventing car thefts is more essential than tax cuts

As JLR discloses the largest quarterly profit since 2017, its CEO urges on the UK to invest more on policing.

Following a rash of thefts of Jaguar Land Rover luxury automobiles, the company’s CEO has urged policymakers to increase expenditure on enforcement to prevent car thefts rather than cutting taxes.

Adrian Mardell, the British carmaker’s CEO, stated, “I would rather funds be allocated to this than tax cuts next year.” This is really essential to many people. It affects the very fabric of our civilization. We’ve got to figure this out.

Insurance costs for Jaguar Land Rover’s expensive automobiles have skyrocketed, causing the business to relaunch its own insurance coverage last October. Some insurers refuse to cover Range Rovers.

The corporation, owned by the Indian giant Tata, is spending more than £10 million to update £450,000 older vehicles with new security software, with 80,000 already fitted. “The theft rates of those enhanced vehicles are as low as the new vehicles,” Mardell said in a statement. “The speed of delivery is a concern. Many of these customers are second and third sales, so we don’t know them.

Only 11 of the current Range Rover’s 12,800 vehicles sold since its launch two years ago have been stolen.

“We’ve got to make it more difficult for gangs and people to operate,” he stated. “We are partially supporting police security at the ports because there is not enough. The containers are not scrutinized, and they leave the country.

The comments came as the company posted its biggest quarterly profit since 2017 and announced that its new electric Range Rover had sparked great interest, as it moves forward with modifications to its UK factories for electric car production.

JLR made a profit before tax and unusual items of £627 million in the third quarter, which ended on December 31, up from £235 million the previous year. Sales increased to £7.4 billion from £6 billion, as wholesale revenues for its Range Rover – automobiles sold through dealerships – set a quarterly record. JLR sold 109,140 vehicles direct to customers.

In the first six weeks, more than 16,000 customers signed up for pre-orders of the Range Rover Electric, JLR’s new flagship car, which will be available within the next year. It is regarded as a critical step toward the company’s electric future as it strives to catch up with competitors.

Mardell stated, “These are new customers, not replacement clients. A few weeks ago, the wait list was around 10,000 people long. So it increased significantly in January, indicating that it will continue to grow steadily over the next few months.”

JLR began road testing prototypes of the vehicle in December, marking the company’s first entry into electric vehicle production in the United Kingdom. In addition, electric medium-sized sports utility vehicles and new all-electric Jaguar prototypes are being developed in the Midlands.

JLR announced the installation of a £60 million battery electric vehicle underbody line in Solihull, near Birmingham; a new body shop in Halewood, Merseyside, for electric models nearing completion; and production lines to build electric drive units in Wolverhampton, West Midlands.

The automaker has been reluctant about adopting electric vehicles, but in April it unveiled a £15 billion investment plan to update its factories and launch electric versions of its models, beginning with the Range Rover.

It is being built at JLR’s factory in Solihull with many of the same tools as the current Range Rovers, which are hybrids with smaller electric batteries and a petrol engine. The corporation has not yet revealed prices. The diesel hybrid Range Rover is priced at £103,720.

Tata is to invest £4 billion in Britain to build an electric car battery gigafactory, which will create 4,000 jobs. The Somerset factory will begin production in 2026. Construction on the site has just begun.

JLR will develop stamping operations at its Castle Bromwich plant to prepare pressed body metalwork, which will play an important part in the production of next-generation electric vehicles.