British premium carmaker Jaguar Land Rover on Wednesday said its global sales rose 10 percent in the three months ended June, but not enough to help parent Tata Motors from posting a 23 percent decline in quarterly profit.
Tata Motors, India’s largest truck and bus maker and the owner of the British based JLR said its first quarter net income fell $283 million (17.3 billion Rs. Rupees) from 22.4 billion rupees in the year earlier period, as new car sales rose almost 9 percent to 467.51 billion rupees ($7.63 billion).
New vehicles like the F-Type, XF Sportbrake estate and the Range Rover Sport helped the British carmaker JLR to announce healthy profit – an increase of 29 percent over the past three months. During the first six month of the year, Jaguar Land Rover sold 210,190 new cars, including 37,636 Jaguar brand units and 172,554 Land-Rover SUVs.
‘It is very encouraging to see both our Jaguar and Land Rover brands delivering strong sales performances across our 178 markets. New model introductions have been incredibly well received with the all-new Range Rover retailing more than 22,000 units since launch.’
New car sale in India fell for the seventh consecutive month in May as demand has been hit by high import costs from a weakening rupee and rising fuel prices.
At this moment Tata is operating at 60 percent of its domestic plant capacity for commercial vehicles and between 40 and 50 percent in passenger vehicles.