UK: Tata's Jaguar Land Rover reports quarterly profit up 100%
Tata Motors' luxury vehicle unit Jaguar Land Rover has reported its second quarter results for the 2012/2013 fiscal year (Q2 FY13) as GBP431m profit before tax, a 100% increase on the same period in the last financial year.
JLR said the positive result in the second quarter reflects a 29% increase in retail sales volumes (84,749 vehicles in total) globally. The company has generated revenues of over GBP3.2bn (an increase of GBP373m).
Commenting on the results, JLR Chief Executive Officer, Dr. Ralf Speth said: "Jaguar Land Rover has delivered another quarter of positive results against a challenging economic backdrop. We continue to see strong sales across all of our key markets.”
“Jaguar Land Rover will continue to invest in its products, plants and will drive further growth by spending in the region of GBP2bn across the financial year.”
"In the third quarter, we will see the first customer deliveries of the all-new Range Rover along with the introduction of the Jaguar XF Sportbrake and all-wheel drive versions of the Jaguar XJ and XF,” Speth added.
Jaguar Land Rover said it has created over 8,000 new jobs in the last two years to support its ambitious investment and growth plans. This includes 1,100 new jobs at Castle Bromwich; 1,000 new manufacturing posts at the Solihull plant; 1,000 jobs at Halewood and 1,000 engineers.
Jaguar Land Rover has also moved to three shifts at both its Halewood and Solihull plants during the first half of the financial year to support the increased demand for its products globally.
Jaguar Land Rover claims it invests more in research and development than anyone else in the UK automotive sector and is in the top ten across all sectors of the British economy.
Jaguar Land Rover has proved itself to be a strong and stable business in spite of the economic downturn, with good sales results in both developing and developed markets. Despite some difficult years...
The media days for the 2013 Frankfurt Internationale Automobil-Ausstellung (IAA) are 10 & 11 September. Each of the following vehicles is a world premiere at the show....
This QUBE report from just-auto provides a comprehensive overview of the global diesel technologies sector, major suppliers, top 14 markets, technology trends and market size forecasts. Use this repor...
Tough trading conditions in Europe have put a dent in BMW's first quarter revenues and profit....
- COMMENT: US JLR plant likely to get a warm welcome
- THE WEEK THAT WAS: Paris, the US, Sweden...
- VEHICLE ANALYSIS: 2014 Kia Sportage
- Special management briefing: Paris reflections (2)
- Special management briefing: Paris reflections (1)
- JLR eyes US southern states 'transplant' - paper
- Tesla outsells rivals as Europe sales rise 6%
- JLR looks to increase home supply content
- Ford announces new engine investment for Dagenham
- JLR starts Discovery Sport production
- Jaguar Land Rover: Providing remarkable growth throughout the economic downturn
- Ford Motor Company - Strategy and SWOT Report
- PLDB - vehicle cycle plan database (annual subscription)
- Global light vehicle safety systems market- forecasts to 2029
- LMC Automotive's European Passenger Car Production Estimates (annual subscription)