Sales rise for Jaguar Land Rover
Jaguar Land Rover had seen its sales rise 23% in the second quarter after its new models were well-received. Owner Tata Motors said new products such as the upgraded Range Rover, Range Rover Sport and Discovery 4 had had successful launches.
Although Jaguar Land Rover made a net loss of £60m in the July-September quarter, it was much less than the £240m loss it made a year earlier. India’s Tata Motors made a net profit of 217.8m rupees ($4.7m; £2.8m) that compared with a loss of 9.4bn rupees a year earlier.
Tata bought the British marques from Ford for £1.7bn in June 2008 and said Jaguar Land Rover’s performance was the highlight of the quarter. Sales volumes at Jaguar Land Rover rose to 44,300 vehicles from 35,900 in the previous quarter.
Aggressive cost reduction had also paid off, Tata said.
“The [Jaguar Land Rover] business is witnessing some stability in the external environment with certain key markets showing signs of recovery,” Tata said in a statement.
Source: BBC News
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