British luxury carmaker Jaguar Land Rover said today it is targeting double‑digit revenue growth in the medium term and will prioritise the US as a key growth market alongside its core regions.
JLR said it will prioritise the Defender brand to drive growth in the US under its partnership with Netherlands-based automaker Stellantis, while also exploring new opportunities for North American customers.
In May, the companies announced plans to jointly develop vehicles in the US.
JLR’s financial performance has come under pressure from Trump era tariffs, particularly given its lack of local manufacturing in the key US market for its Defender and Range Rover SUVs.
JLR, which contributes about 80% of Tata Motors Passenger Vehicles’ revenue, is also working on reducing costs and launching more premium cars to protect its margins from the impact of the US-Iran war.
The automaker reiterated that it aims to cut $2.3 billion in costs over two years while maintaining an £18 billion investment plan from fiscal 2024, as it grapples with trade uncertainty, a cyberattack, and a supplier fire.
