cfrp
08-19-2011, 09:10 AM
SALES of Jaguar Land Rover (JLR) cars have continued on their road to recovery.
In the three months up to June 30, parent company Tata Motors revealed that sales, profits and the number of cars sold had all improved on the back of better products and growing markets, especially in China and Russia.
The car maker, which employs 3,000 staff at its Halewood plant making the new Range Rover Evoque and Freelander 2 models, is showing a steady recovery from the 2008 credit crunch when sales plummeted, production was cut and some workers were laid off due to the lack of finance deals for people wanting to buy new cars.
New figures from the group have revealed that the total number of vehicles sold by JLR in the three months to the end of June grew by 4.9% to 62,090.
Two JLR car plants in the West Midlands produce different ranges of Jaguar and Land Rover models, but the Halewood-built Evoque, which is due to appear in car showrooms from next month, is seen by the company as its biggest potential seller for years to come.
Total sales in the last quarter were worth £2.71bn to Tata, which is a 19.9% increase compared with the same quarter this time last year.
Profits for the JLR range, before the deduction of tax, rose from £239m to £248m.
After tax, the company showed a profit of £219m, against £226m the previous year.
However, this May the company managed to secure financial stability for the future after it successfully sold bonds to investors over a seven-year and 10-year period which were worth approximately £1bn.
In the three months up to June 30, parent company Tata Motors revealed that sales, profits and the number of cars sold had all improved on the back of better products and growing markets, especially in China and Russia.
The car maker, which employs 3,000 staff at its Halewood plant making the new Range Rover Evoque and Freelander 2 models, is showing a steady recovery from the 2008 credit crunch when sales plummeted, production was cut and some workers were laid off due to the lack of finance deals for people wanting to buy new cars.
New figures from the group have revealed that the total number of vehicles sold by JLR in the three months to the end of June grew by 4.9% to 62,090.
Two JLR car plants in the West Midlands produce different ranges of Jaguar and Land Rover models, but the Halewood-built Evoque, which is due to appear in car showrooms from next month, is seen by the company as its biggest potential seller for years to come.
Total sales in the last quarter were worth £2.71bn to Tata, which is a 19.9% increase compared with the same quarter this time last year.
Profits for the JLR range, before the deduction of tax, rose from £239m to £248m.
After tax, the company showed a profit of £219m, against £226m the previous year.
However, this May the company managed to secure financial stability for the future after it successfully sold bonds to investors over a seven-year and 10-year period which were worth approximately £1bn.
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