JLR strong sales drive Tata Motors profits
When Tata bought Jaguar Land Rover from Ford back in 2008 for $2.3 billion it offered promise for the future, but most analysts thought Tata had made a big mistake buying JLR for so much, just as the world economy started to slip ion to the near depression we’re still fighting. But the analysts were wrong.
Tata Motors has just revealed its figures for the last quarter, which show net profits in India – for cars like the Tata Nano – fell by more than half, but that drop was more than made up by strong sales and revenue at Jaguar Land Rover.
JLR saw revenue rise by 41 per cent to £3.75 billion with profits up by 57.4 per cent to £440 million. JLR also enjoyed a margin of 20.1 per cent. China and Russia accounted for over 22 per cent of JLR’s total sales of 86,322 vehicles.
JLR boss Ralph Speth, speaking about the sales figures, said that JLR’s joint venture in China was on track, and that JLR will be building more models in India as the growth in the luxury car market in India continues.
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