Jaguar Set For Roaring Profit (Thanks To China) | TAHITI Le Mag | Scoop.it
Booming demand from China helped drive a record £1.5 billion profit at resurgent luxury car maker Jaguar Land Rover today.

 

The Midlands-based manufacturer, owned by Indian company Tata Motors, reported a 35% rise in its surplus for the year to the end of March, boosted by strong demand for its Range Rover Evoque.

Sales in China showed strong growth and now account for nearly one in five of the cars sold by the business.

The impressive performance underlines the resurgent fortunes of the UK's car manufacturing industry, which is now exporting more in value terms than it imports for the first time since the 1970s.

The number of cars JLR sold over the course of the year hit a record 314,433, up 29% on the previous year, while revenues increased 37% to £13.5 billion.

The UK remained its biggest market for retail sales, up 3.2% to 60,000.

But its two second biggest markets closed the gap, with China, where the booming middle classes continue to show a strong appetite for western luxury goods, up 76%, and North America seeing 15% growth...