JLR sets sights on strong US growth, greater customer choice

(Sharecast News) - Coventry-based auto giant JLR on Wednesday said it is refocusing its strategic ambitions on the North American market as it laid out plans to achieve double-digit revenue growth over the medium term. While outlining the next phase of its Reimagine strategy, chief executive PB Balaji said the firm wants to grow its US operations to the size of the current entire JLR business.

The company also said it wants to cater to different customer segments and diversify its sources of growth, giving buyers more choice through "greater propulsion flexibility" on its most popular models.

JLR, which has previously announced a commitment to invest £18bn in future technologies, vehicle platforms and transformation between FY24 and FY29, said it will offer its Range Rover, Defender and Discovery brands with the choice of MHEV, HEV, PHEV or BEV, while Jaguar will continue to be electric-only.

The manufacturer said it will accelerate its efforts in North America, helped by the recently announced collaboration with auto conglomerate Stellantis to explore the delivery of new Defender products specifically designed for the US market.

The news came alongside a weaker-than-expected profit outlook from the Tata Motors Passenger Vehicles subsidiary, which said profit margins would be just 4% in FY27 due to the impact of US tariffs and last year's cybersecurity incident which affected operations.

"As we enter a critical business delivery phase of our Reimagine strategy, launching five new products over the next two years across our incredible House of Brands, now is also the time to evolve our plan to offer global markets greater propulsion choice to unlock growth and build resilience," said Balaji.

"To truly manifest the power of our brands, we will increase our focus on North America, our biggest market. The rising demand for luxury products coupled with the strong preference we see for our brands signals significant growth potential."