While parent company – Tata Motors, which is India’s biggest automotive producer – saw its fortunes dwindle further in its home region, the British luxury unit Jaguar Land Rover kept its track record.
Thanks to an even stronger fourth quarter, the overall performance for the fiscal year ending March 31 at Jaguar Land Rover has been positive, with the unit bringing home record profits – a welcome break from the parent’s problems.
Jaguar Land Rover’s net profit for the full fiscal year saw a new record, of 1.9 billion British pounds, rising from 1.2 billion pounds for the 2012-2013 period. Also, the fourth quarter net profit grew to 449 million pounds (around 552 million euros), from the previous result of 377 million.
JLR now counts China as its biggest single automotive market, after the automaker’s full-year sales jumped 34% to reach a new record locally – 103,077 units sold for the 12 month period. Overall, the carmaker had an 8% quarterly rise for global sales to 124,776 vehicles, while for the full year the tally stood at 434,311 cars. The automaker is also aiming to start production at a factory in China designed to alleviate British production strains and allow for further sales growth locally.
Via Automotive News Europe