Jaguar Land Rover must be smiling from ear to year as the Tata
Motors owned brands record their highest profit ever. Pre-tax profits grew from
R14.3 billion last year to a welcome R25.5 billion.
The drastic rise in profit was due to a 76% increase in sales
in China which amounted to 50 994 as well as the worldwide popularity of
the Range Rover Evoque. On top of this, growth has also taken place in the European
market. German sales increased with 38.1% while Russian sales rocketed with
22.3 percent. In France sales hiked by 57.4% and Spain saw an increase of 18.1%
in sales. This is all surprising considering the ongoing euro crisis.
Consumer confidence in the two brands could very well be
behind the success and there seems to be a strong demand. Jaguar Land Rover is
considering expanding on its three plants in the UK and are currently building
a new engine factory in Wolverhampton. Tata Motors recorded a 136% increase in
net profit.
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