Brexit is cause for concern, too.

Jaguar Land Rover showed mixed results in the last quarter due in part to the effects of Brexit. On a positive note, global sales improved 16 percent to Jaguar’s volume jumped 76 percent to 31,800 units in part due to the F-Pace’s red-hot popularity, and Land Rover gained 4 percent with 100,900 deliveries. It was also the first time ever Land Rover delivered over 100,000 units in a three-month period.

While these sales figures look good, they represent JLR’s slowest growth in the last three quarters, according to Automotive News Europe, and there’s even worse news financially. Profit after taxes amounted to $399 million (304 million pounds) versus $646 million at present rates (492 million pounds) in the same quarter of 2015. Brexit is largely to blame because the devalued pound cost the company $272 million (207 million pounds) in losses due to poor exchange rates.

In the United States, sales are outpacing the global numbers. JLR has delivered 57,112 vehicles for the year through July, which is a 23-percent boost over the same amount of time in 2015. Specifically, 14,389 vehicles in that volume were from Jaguar, and 42,723 belonged to Land Rover. According to Automotive News Europe, LR has increased its incentive spending in the region by 51 percent to spur more customers toward its luxury SUVs.

Britain is a major automotive market both in terms of sales and production. The country's decision to leave the European Union has hurt many firms. For example, PSA Group opted to raise prices on its vehicles there recently. Ford estimated Brexit could cost the automaker $500 million through 2017.

Source: Jaguar Land Rover, Tata, Automotive News Europe

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