Jaguar Land Rover Automotive Plc slashed its guidance and swung to a heavy quarterly loss after a cyberattack temporarily halted production at the UK’s largest automaker.
The Range Rover maker said Friday its profit margin for the full year could now be entirely wiped out, having previously targeted as high as 7%. It now expects free cash burn of as much as £2.5 billion ($3.3 billion), after previously aiming for little change.
The company, owned by Tata Motors Passenger Vehicles Ltd., slumped to a loss after tax of £559 million for the three months through September, compared to a profit a year earlier, in part due to £196 million of costs related to the hack.
The cyberattack forced JLR to halt production for almost six weeks, an unprecedented shutdown for such an incident. The fallout

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