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Vertu Motors warns of $7.4 million profit hit after JLR cyberattack

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Vertu Motors said it expects up to a 5.5 million-pound ($7.4 million) impact on annual profit following the Jaguar Land Rover (JLR) cyberattack that disrupted operations for nearly six weeks. The British car dealer’s shares fell 3.5% in early trading after the announcement.

JLR, owned by India’s Tata Motors, began restarting its systems this week after the incident crippled parts of its network. Vertu, which operates 10 JLR dealerships across the UK, said about 2 million pounds of the loss occurred in September, and the total effect will depend on how quickly JLR fully restores operations.

“We’re working with our insurers to assess a possible claim under our policy, which covers third-party system outages,” said CEO Robert Forrester.

Vertu noted that, excluding the cyberattack’s impact, it still expects annual pretax profit to align with market forecasts of around 27.2 million pounds. For the six months ending August 31, adjusted profit before tax stood at 20 million pounds, a nearly 10% decline from the previous year.

The incident highlights the growing financial risks of cybersecurity failures in the automotive industry, where interconnected supply chains leave dealerships and manufacturers increasingly exposed.

Jaguar Land Rover Scrambles to Contain Cyber Breach That Halted Production

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Jaguar Land Rover (JLR) said Friday it is working “at pace” to restore operations after a major cyber incident forced it to shut down systems, halting both retail and production activities. The breach, disclosed earlier this week, has left thousands of factory workers at home until at least Tuesday as the company attempts a controlled restart of global applications.

Owned by India’s Tata Motors, JLR stressed there is no evidence customer data has been stolen so far. The company described the attack as “severely disruptive” to its operations across its three British car plants, where it employs around 33,000 people, making it the UK’s largest automotive employer.

The disruption adds to JLR’s mounting challenges. The company already reported an 11% sales drop in July, partly due to a U.S. export pause after Trump’s car import tariffs, and has cut its 2026 profit margin target from 10% to 5%-7%. Like other European automakers, it also faces weak demand in China and slower sales in Europe.

The attack mirrors a global trend of escalating ransomware campaigns hitting household names. Earlier this year, Marks & Spencer estimated its own cyber breach cost about £300 million ($405 million) in lost profit. Analysts warn that JLR’s recovery could also come with significant financial fallout if disruptions stretch beyond next week.