The recent cyberattack on Jaguar Land Rover has caused serious financial damage to the British economy. According to an independent report by the Cyber Monitoring Centre (CMC), the incident cost the UK an estimated £1.9 billion ($2.55 billion) and affected over 5,000 organisations.
Jaguar, owned by India’s Tata Motors, faced an almost six-week production shutdown after the hack in August. The CMC report called it one of the most economically damaging cyber events to hit the United Kingdom. It said most of the losses were due to disruptions in manufacturing at Jaguar and its suppliers.
Experts warn that the total losses could increase if production at Jaguar is not fully restored soon. The company operates three factories in Britain, producing around 1,000 cars per day. It began resuming operations earlier this month, marking a slow return to normal output levels.
Jaguar has not commented on the report, but the company plans to release its financial results in November. Analysts estimated that the luxury carmaker was losing about £50 million per week during the shutdown. To help support its supply chain, the British government approved a £1.5 billion loan guarantee for the company in late September.
The Cyber Monitoring Centre, funded by the insurance industry, ranks major cybersecurity incidents affecting UK businesses. It classified the Jaguar Land Rover hack as a Category 3 systemic event on a five-level scale. The report noted significant disruption not only to Jaguar’s production but also to its multi-tier suppliers and downstream organisations, including dealerships.
This hack is one of several major cybersecurity breaches in the UK this year. Retailer Marks & Spencer also suffered heavy losses after an April attack that shut down its online services for two months.
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