Jaguar Land Rover (JLR) has posted profits of £1 billion on sales of £10 billion, with record monthly sales in March 2011.
Who’d have believed it just a year or two ago?
Jaguar Land Rover has reported a turnover for the year to the end of March 2011 of £9.9 billion and has made a profit (after tax) of £1.04 billion – almost £3 million a day.
From proffering the begging bowl in the direction of a short-sighted Labour government in 2009 – and getting nothing without untenable conditions attached - and making plans to close one of its three UK plants, JLR’s renaissance has been astonishing.
We’ve endlessly reported record sales figures for both Jaguar and Land Rover over the last year, and March 2011 saw huge sales rises in China and India, and the best monthly sales in Land Rover’s history.
But despite – or actually, because of – the success they’re currently enjoying, JLR are not resting on their laurels.
They are pushing forward with a five-year plan to launch 40 new product ‘Actions’ (that’s models, variants, engines…), have plans to build a £750 million engine plant in the UK and spend £1 billion a year on R & D in the UK. Oh, and they’re taking on an extra 1,000 employees.
Didn’t they do well?