Jaguar Land Rover quarterly revenue rise 30.3 percent

Article by Christian Andrei, on November 15, 2011

The demand in China had boosted the sales of Jaguar Land Rover’s models, contributing to the 30.3% increase in quarterly revenue to 2.9 billion pounds or 3.4 billion euros for the period ended Sept. 30. Last Monday, JLR said that for the same period, its pre-tax profits rose 9% to 287 million pounds.

JLR, which is owned by Tata Motors from India, said that it had gained from the robust sales of its new Range Rover Evoque, of which 7,700 models had been sold since it was launched. Demand for the Jaguar XF powered by a 2.2-liter diesel engine had also been strong.

In the first half, Jaguar Land Rover’s unit sales had grown by 13.8% to 130,090. The company said last week that it will add 1,000 jobs at its factory in Solihull located near Birmingham, England, to boost the production of the Range Rover, Range Rover Sport, Discovery and Defender models.

In early 2011, JLR announced that it will put up a 355 million pound engine plant in Wolverhampton, England, that may result to the hiring of thousands more employees.

It was in June 2008 that Tata Motors paid £1.5 billion to buy JLR from Ford Motor Co. Last Monday, Tata Motors reported a 15% decrease in quarterly profit on Monday, falling below analyst estimates, as Indian sales decreased and the price of raw material climbed.

Tata Motors’ net income in the second quarter fell to 18.8 billion rupees ($373 million) from 22.2 billion rupees the year before. Its sales increased by 27% to 359.4 billion rupees. Meanwhile, Tata Motors's passenger vehicle sales in India dropped by 22% in the past quarter as demand dropped due to climbing interest rates and fuel prices.

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