Jaguar Land Rover in fast lane as profits soar
Jaguar Land Rover, which is owned by Indian giant Tata Motors, said retail sales surged 21 per cent year-on-year to 102,644 vehicles in the three months to end of September, lifting pre-tax profit to £668 million.
Demand was boosted by the launch of the Jaguar F-Type sports car, pictured, and the latest Range Rover Sport, helping drive revenues 40 per cent higher to £4.6 billion. Chief executive Ralf Speth said the luxury marques reached more markets than ever due to its “most engaging product line-up”. The group is one of the UK’s biggest exporters, with about 85 per cent of its sales from exports, and saw strong demand from Brazil, China, Russia and the Middle East. It builds cars at plants at Solihull and Castle Bromwich in the Midlands and Halewood on Merseyside, employing some 25,000 UK staff.