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Jaguar Land Rover Profits Rise Above One Billion Pounds - Just British
The company, which only two years ago attempted to seek Government support as global car sales collapsed, said pre-tax profits rose from £15m last year to £1.1bn in the year to March 31. The increase has been driven by a huge rise in Jaguar and Land Rover sales in China and emerging markets, where the middle classes see the British cars as a status symbol. JLR sales rose 51pc in the year from £6.6bn to £9.9bn, which was also aided by new models such as the Jaguar XJ and favourable foreign exchange rates. “Jaguar Land Rover is now a strong, profitable and innovative competitor in the premium car industry,” said Carl-Peter Forster, chief executive of JLR’s parent company Tata Motors. Indian company Tata bought JLR from Ford in 2008, but initially suffered heavy losses as the recessions struck. Read the [...]