Land Rovers drive revenues at Tata Motors
RESURGENT car maker Jaguar Land Rover generated 85 per cent of its Indian parent company’s revenues and almost all of its profits in the last nine months of 2013.
Revenues at JLR rose 30.8 per cent to £14bn while profits before tax rose 65 per cent to £1.9bn.
This rapid growth compares to a 23.6 per cent fall in revenues to $4.2bn at the remainder of Tata Motors, which makes cars for the Indian market including the Tata Nano, the world’s cheapest new car.
Jaguar shipped 57,783 vehicles in the nine months, up 57.7 per cent on the same time a year ago, and more than a quarter of a million Land Rovers rolled off the production lines, up 14.6 per cent.
The new Range Rover Sport and the soaring popularity of the Evoque model drove much of the increase, Tata said. China remains JLR’s biggest market, making up 23.7 per cent of retail sales.
JLR, which has factories in the UK, India and China, intends to spend up to £3.7bn in the next year on capital investment, having already splashed out £2bn in the past nine months.
“Our financial performance for this and the preceding quarters is a testament to the quality of Jaguar Land Rover’s award winning product offerings which continue to meet the exacting standards demanded by our customers around the world,” said JLR boss Ralf Speth.