Jaguar Land Rover’s profits dented by US tariffs and drop in sales

Carmaker says US-UK trade deal now in place will reduce future impact of levy after quarterly profits fall 49%

Jaguar Land Rover’s profits almost halved in the last quarter as the impact of US tariffs and declining sales rocked the luxury car manufacturer.

The Tata-owned carmaker said tariffs and currency headwinds were behind a steep 49% fall in underlying pre-tax profits to £351m in the three months to 30 June.