Britain’s largest carmaker, Jaguar Land Rover, has reported record revenues amid continued strong demand for its Range Rover and Defender models, but warned that it expects to miss UK government targets for electric cars next year.

The company is not on track to comply with the UK government’s zero emissions vehicle (ZEV) mandate, which will require 22% of total UK sales next year to be electric cars. Failure to meet the target could result in fines of £15,000 for every non-electric vehicle produced over the threshold.

JLR, owned by India’s Tata, revealed on Thursday it had made revenues of £13.8bn between April and September, up 42% on the previous year. In the latest quarter revenues hit £6.9bn, while profit before tax rose year-on-year to £442m.

It also reported its fourth consecutive quarter of profit for the first time in six years, after a difficult period in which it was forced to write down the value of big investments in China and then had to cope with the coronavirus pandemic and a global shortage of computer chips.

The company still has an order backlog of 165,000 cars, but that was a marked reduction from its peak of more than 200,000. It said that demand for its Range Rover SUV, the smaller Range Rover Sport and the more rugged Defender remained strong, particularly in China.

Adrian Mardell, the manufacturer’s chief executive, said he expected revenues to hit a new record in the second half of its financial year, before an expected drop in demand from April onwards.

He said he was supportive of the ZEV mandate, but acknowledged it would be “a challenge” for JLR in 2024, and one it was unlikely to meet.

After a series of delays to its electric plans, JLR sells only one zero-emission vehicle, the lauded but ageing Jaguar I-Pace, and its first electric Range Rover will only start deliveries towards the end of 2024. JLR is likely to offer deals on the I-Pace in 2024 to encourage more buyers, Mardell said.

JLR would instead have to either pay the fines or else pay other manufacturers who have exceeded the target to borrow the credit for their electric cars. JLR has previously paid large sums to the US electric car pioneer Tesla to avoid fines in the EU.

Mardell said JLR would be ready to meet the ZEV mandate in 2025 and 2026, when it will have to hit 28% and then 33% electric sales in the UK. JLR is spending £15bn on switching gradually to electric vehicles.

Tata will provide the batteries for JLR’s belated transition to electric cars from a £4bn factory to be built in the UK. Mardell said JLR would start receiving those British batteries towards the end of 2026.