Jaguar Land Rover Announces Record Profits Of £2.5 Billion
You might be forgiven that the car manufacturing industry in the United Kingdom is virtually non-existent, with well-known brands such as Rover, and its parent, British Leyland, going bust, but car building in Britain isn’t completely dead.
One of modern-day Britain’s success stories has to be with Jaguar Land Rover. Currently owned by Indian automotive manufacturer Tata, Jaguar Land Rover is the result of a deal by Tata to purchase the two separate car marques from American automaker Ford back in 2008.
Included in that deal was two dormant car brands, Lanchester and Rover.
Having closely watched the performance of the two car marques over the years since being owned by their Indian parent company, one could see that the firm have successfully managed to turn around the fortunes of the two brands.
Jaguar Land Rover announces record profits of £2.5 billion
In a recent press release, the Jaguar Land Rover group announced that they had made record profits of £2.5 billion (US $4.2 billion).
The profits made by the company can be attributed to a number of sources. Firstly, there is the success of the Jaguar F-Type two-seater sports car, which, as any car enthusiast will know, is the successor to the iconic E-Type of the 1960s.
Additionally, the Range Rover Evoque model also helped to drive worldwide sales up by 15.9%, or 434,311 vehicles. Revenues for Jaguar Land Rover succeeded in climbing up by 22.8%, or £19.4 billion (US $32.5 billion).
Jaguar’s best-selling model was reported as being the XF, with 49,000 models sold while Land Rover’s was the Range Rover Evoque, with 123,000 models sold.
A “solid year” for Jaguar Land Rover
According to Jaguar Land Rover’s Chief Executive, Ralf Speth, this year has “proven to be a solid year” for the firm, with their success “based on the demand around the world for our engaging products.”
With many established dealerships, such as H.A Fox, ready to take customer orders and support them before, during and after each sale, Jaguar Land Rover can benefit from a strong support network to encourage sales and growth within the group.
Jaguar Land Rover: Tata’s light at the end of the tunnel?
Whilst things are looking rosy for the Jaguar Land Rover group, it seems things aren’t so great for its parent company, Tata Motors.
The Mumbai-based firm has reported Q4 profits of 39.5 billion, a loss of 3 million rupees from the same period in the previous year, and much lower than original conservative estimates. Still, Tata Motors did have a general overall increase in profit throughout the year, with many financial experts claiming that Jaguar Land Rover had been helping to prop up Tata.
Tata Motors have invested significantly into the design, engineering and manufacturing processes of the Jaguar Land Rover group, with most of the work being carried out within the United Kingdom.
Just three months ago, it was reported that Jaguar Land Rover have struck a deal to being producing vehicles in Saudi Arabia for the Middle-Eastern market.