With the surge in demand, Jaguar Land Rover is facing a shortage and to help it cope, it is working with Ford Motor Co. to increase supplies of engines. In an interview this week, Vice Chairman Ravi Kant said that Tata Motors Ltd., which owns the U.K.-based luxury brands, has purchased "considerably more" engines than projected from Ford.
Ralf Speth, chief executive officer of Jaguar Land Rover, said that Ford is doing what it can to deliver the engines.
In the last quarter, sales of Jaguar cars and Land Rover sport-utility vehicles have gone up by 59%. However, this revival in the demand for luxury vehicles also pushed BMW AG and Daimler AG to raise their profit forecasts.
Tata Chief Executive Officer Carl-Peter Forster aims to open factories in China and India to attract a growing number of rich people in Asia's two fastest growing major economies.
Deepesh Rathore, managing director of IHS global Insight India, calls it a "very positive turnaround," adding that the return of demand to the luxury-vehicle segment has been "stronger" than expected. For has yet to comment on this report. [via autonews - sub. required]