JLR Global Sales Up 19% in First Quarter image

Jaguar Land Rover’s global sales increased 19% to 116, 340 units during the first quarter.

JLR revenue was up 22% to 5.05 billion pounds (5.9 billion euro) from January to March and profit hit 378 million pounds. Jaguar sold 21,163 vehicles and Land Rover the rest of 95,177 vehicles.

“As far as Jaguar Land Rover is concerned, they are going to gain from depreciation in the pound,” said Umesh Karne, an analyst at Brics Securities in Mumbai. “Raw material prices are softening and the margins at JLR will improve as models such as the new Range Rover and F-Type improve the model mix.”

The Land Rover Freelander, the best-seller Evoque and the Jaguar XF accounted for more than 50% of the automaker’s sales, each having a selling price of around 30,000 pounds, compared with 42,000 pounds for the Vijay Somaiya.

Tata;s income for the first quarter dropped 37% to 39.5 billion rupees ($703 million) and sales fell 29% to 184,942 units, as Indian customers kept aside of expensive purchases due to the slowing economic growth.

JLR announced that its sales were up 12% last month and retail sales made the month the best April ever. The company said that sales increased in each of its major markets with Asia Pacific up 37%, China up 10%, the UK up 32%, Europe up 2%, North America up 6% and the other overseas markets increased 11%.

Source: Autonews