Under Tata Motors ownership, JLR posts record annual profits of £1.1bn By Luke Madden26th May 2011
Jaguar Land Rover has recovered from the recession in style by
posting a record annual profit figure of £1.1bn for the previous
In isolation the figure is impressive but itís all the more amazing
when you consider that JLR made just £32m in profit last year and
actually made a loss of £281m in the first 10 months under their current
owners, Tata Motors.
The record profit figures are partly a result of the success of the
Jaguar Land Rover brands in China and India where sales have increased
by 33% and 61% respectively as their cars have come to symbolize luxury
and status. Thatís despite the cars in China costing almost twice as
much as they do in the UK because of local taxes.
The impressive results have lead to plans for a new Jaguar Land
Rover engine plant to be constructed in the UK that could create around
1,000 new jobs.
The future looks set to get even brighter for the British firm too,
with JLR boss Dr. Ralf Speth admitting to Auto Express that they have
plans for up 40 new models over the next five years. Among them will be
the next generation Range Rover, a hybrid XJ, a two-seater Jaguar sports car and an all-new Land Rover Defender.
Read more: http://www.autoexpress.co.uk/news/autoexpressnews/268276/jlr_to_post_profits_of_11bn.html#ixzz1NUDUewB6