Jaguar Land Rover revenues surge 25% as chip crisis eases

Jaguar Land Rover posted a dramatic increase in revenue and profit and reduced its towering order backlog in the final financial quarter of 2022.

Rounding up its financial performance for the 12 months to March 2023, the Gaydon firm hailed revenues of £22.8 billion – up 25% year-on-year – off the back of a 9% increase in sales and an increase in price per vehicle.