Jaguar Land Rover reported a drop in quarterly profit as the maker of luxury sport utility vehicles braces for potential tariffs in the US, its largest market.

Jaguar Land Rover Automotive, the British arm of Tata Motors Ltd, is planning to raise $500 million through an offshore loan, according to a company statement, joining a flurry of dollar debt deals from Indian conglomerates.

The luxury vehicle maker, whose parent company is Indian conglomerate Tata, said its revenue increased by 2 per cent in the three months ending December, against the same period last year.

Car giant Jaguar Land Rover (JLR) has submitted plans to expand its Wolverhampton site on the i54 Business Park. The proposed development is part of the manufacturer's recent announcement to ramp up electric production and be "carbon net zero across supply chains,