Brexit Doesn’t Hinder Jaguar-Land Rover Which Posts 13 Percent Increase In Q3 Revenue

UK’s largest automaker by units, Jaguar Land Rover, reported a 13 percent

                                        https://www.carscoops.com/author/cristicarscoops-com/

by Cristian Gnaticov

February 21, 2017 at 08:28

UK’s largest automaker by units, Jaguar Land Rover, reported a 13 percent increase in revenue to £6.5 billion ($8 billion), in the third quarter of 2016.

This translates into a £255 million ($316 million) profit before tax, which builds upon the £934 million ($1.16 billion) of the first nine months of last year.

In terms of sales, JLR shifted 149,288 vehicles in the three months to December 31, up 8.5 percent year-on-year. Jaguar sold 45,364 almost doubling its sales at +90.3%, while Land Rover delivered 103,924 units, down 8.7% over the same quarter the previous year.

“Continuing expansion and innovation in our compelling product range have driven up global revenues and retail unit sales, led by the Jaguar F-Pace, Jaguar XF, and Land Rover Discovery Sport. Models such as the all-new Discovery mark the latest step in our investment program, which will underpin long-term profitable, sustainable growth“, commented JLR’s CEO, Ralf Speth.

Jaguar Land Rover’s biggest market globally was China, where a 38.4 percent increase in sales took place. Deliveries in North America grew by 19.8 percent, while in Europe, the company sold 7.0 percent more cars.