Jaguar Land Rover Automotive reported a 38% increase in second quarter pre tax profit to GBP385m (US$506m) in the three months to 30 September 2017.
Sales were up 11.5% to GBP6.3bn with an increase in margin (EBIT) of 1% to 5.2%.
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The automaker, owned by Tata Motors, said higher sales and profits wre due to the ongoing launch of new models such as the Range Rover Velar, Land Rover Discovery, Jaguar XF Sportbrake and F-Pace and, in China, the long wheelbase XFL. Retail sales grew 5.1% to 149,690 with increases in China (27.4%) and the US (5.1%) offsetting lower sales in the UK and Europe.
CEO Ralf Speth said: "We have delivered solid growth in quarterly profit and revenues amid rising demand. Although we are facing headwinds and uncertainty in some markets, we are well positioned to deliver further global expansion."
Investment spending was over GBP1bn in the second quarter and, for the full year, is expected to exceed GBP4bn.
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