Tata Motors tripled its net income for the first quarter ended June 30, 2014 to INR54 billion ($882 million) thanks to increasing sales at its Jaguar Land Rover unit. Jaguar Land Rover particularly boosted its pre-tax profit by more than double from GBP415 million to GBP924 million ($1.6 billion).
Earnings at Jaguar Land Rover were helped by increasing demand for the Jaguar F-Type convertible and Range Rover SUVs. The carmaker saw its deliveries in the quarter ended June 30, 2014 jump 22 percent to 115,596 vehicles.
Better business at Jaguar Land Rover is helping Tata Motors remain afloat, as the company continues to grapple to make profitable its Indian operations that sells Tata-brand cars, buses and trucks.
Juergen Maier, a fund manager at Raiffeisen Capital Management in Vienna, remarked that Jaguar Land Rover is “performing quite well.”
He said that the XE taking on the BMW 3 series and the Mercedes-Benz C-Class would be the “next big thing to watch out for.”
The XE mid-sized sports sedan will be the only offering in its segment underpinned by an aluminum platform. The XE – to be unveiled in London on Sept. 8 -- will feature four-cylinder, 2.0-liter gasoline and diesel engines.