Sales and profits race ahead at Jaguar Land Rover
VEHICLE manufacturer Jaguar Land Rover has enjoyed a strong first quarter with profit more than double that for the same period last year.
Indian parent Tata said continuing strong demand for its products had seen JLR’s Q1 revenues rise 22% to £5.35bn. The rise is significantly higher than that of the same period last year, when the figures were up 13% on 2012.
Pre-tax profit increased to £924m for the quarter – more than double that for 2013 (£415m). Again the figures show a steady progression with Q1 profits in 2012 standing at £333m.
The company said it had sold 115,596 vehicles during the quarter, with global demand spread across both Jaguar and Land Rover.
Strong sellers included the Range Rover, Range Rover Sport, Range Rover Evoque, which is made at Halewood near Liverpool and the Jaguar F-Type.
Commenting on the results, Jaguar Land Rover chief executive Dr Ralf Speth said: “This financial performance reflects Jaguar Land Rover’s award-winning product portfolio. We are committed to inspire customers with exceptional premium vehicles, delivering the highest standards of quality, technology and customer service. We delight people with experiences that they will love, for life.”
With new products being lined up, such as the launch next month of the eagerly-anticipated Jaguar XE and the expansion of the new Discovery range, the year looks to be a promising one for the business.
