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Tata-owned Jaguar Land Rover H1 profits at more than 1 billion pounds

Discussion in 'International Politics' started by Anees, Nov 10, 2013.

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  1. Anees

    Anees Lt. Colonel ELITE MEMBER

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    Tata-owned Jaguar Land Rover H1 profits at more than 1 billion pounds

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    London: India's Tata-owned Jaguar Land Rover has powered to half-year profits of over 1 billion pounds for the first time, boosted by global demand for the new Jaguar F-Type and Range Rover Sport.

    JLR said that it would invest 2.75 billion pounds in its products and facilities in the financial year to March 2014.

    According to a newspaper report, the UK-based car maker surprised analysts with a better than expected 42% rise in profits to top 1.08 billion pound for the six months to September 30.

    In Britain, it is opening a new 500 million pound engine factory in Wolverhampton next year, with the creation of 1,400 jobs, while in September JLR announced plans for further expansion of its Solihull factory in Birmingham.

    The company said it would invest 1.5 billion pounds to support a new range of sports cars and cross-over cars featuring the latest in lightweight aluminium technology, a spend expected to create another 1,700 jobs.

    Including these latest jobs, JLR would have created almost 11,000 new posts in Britain over the past three years, the company said.

    JLR s performance compensated for continuing losses in the standalone Tata car business.

    The Indian company said: The weak operating environment in the India business was more than offset by the increase in wholesale volumes and richer product and market mix at Jaguar Land Rover.

    JLR said the figures reflected strong demand for the new and refreshed Jaguar and Land Rover line up, lifted over the period by the sales debut of the Jaguar F-type and Range Rover Sport and a strong Range Rover performance.

    Revenues jumped 26 per cent to 8.71 billion pounds, with retail sales volumes rising 16 per cent year on year to 197,363 units.

    The sales momentum accelerated in the second quarter when revenues leapt 40 per cent to 4.61 billion pounds, with profits before tax reaching 668 million. JLR made 1.68 billion pound profits on 15.8 billion pound revenues for the whole of its last financial year.

    The latest figures highlight the transformation of a business under its Indian owners, who were widely decried for overpaying when Tata bought the business from Ford in 2008 for 1.15 billion pounds.

    Ralf Speth, JLR s chief executive, said: Our unrelenting focus on design, technology, innovation and quality has seen Jaguar Land Rover reach global consumers in more markets than ever before, thanks to its most engaging product line-up.

    Last month, JLR disclosed that it had achieved record sales in September, with Jaguar selling 8,462 vehicles, up 35 per cent.

    While the F-type introduction had boosted Jaguar sales, the group stressed at that time that there had been continued demand for all XF models and a solid performance from the XJ models.

    The F-type Coup, dubbed the most dynamically capable, performance-focused Jaguar is due to make its debut on November 19, the eve of the Los Angeles auto show. China has been driving demand for Jaguar cars this year, with sales up 218 per cent in September and 122 per cent in the first nine months of 2012.

    JLR said at Land Rover there had been particularly impressive performances, over the same period from the Freelander and Range Rover Evoque models, with respective sales up 24 per cent and 14 per cent respectively.

    Tata-owned Jaguar Land Rover H1 profits at more than 1 billion pounds - NDTVProfit.com

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  2. Gessler

    Gessler BANNED BANNED

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    India is taking British aid and using it to feed Britain's own companies. :blah:

    Oooohhhh. 11,000 precious jobs were lost because of bloody Indians. :blah:
     
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  3. The Drdo Guy

    The Drdo Guy Captain SENIOR MEMBER

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    Now TATA should also try it's hands in the production of jet engines too...I think they can develope or bring some companies who can share expertise together to share tech...BTW i love Land Rover...Awesome ride...
     
  4. Marqueur

    Marqueur Peaceful Silence ELITE MEMBER

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    Tata's Jaguar Land Rover posts record car sales for 2013

    India has emerged as one of the fastest growing markets for Tata Motors-owned Jaguar Land Rover (JLR), which posted record sales for 2013 on Sunday as the iconic British luxury brands sold 425,000 cars worldwide.

    The record sales of over 400,000 cars marked the UK-based car maker's strongest-ever full year global sales performance while the US, Germany and India are now JLR's fastest growing markets.

    "Our unrelenting focus on design, technology, innovation and quality has seen Jaguar Land Rover reach global consumers in more markets than ever before thanks to its most desirable product line-up, enriched further in 2013 by the Jaguar F-TYPE and all-new Range Rover Sport," said JLR CEO Ralf Speth.

    Sales have been doing particularly well in the US and Germany, besides the rapidly growing developing economies of India and China.

    Globally, Land Rover proved the firm favourite among customers representing the largest share of sales with 348,383 sold in 2013, an increase of 15 per cent.

    But demand for the luxury Jaguar has also surged over the last 12 months, almost doubling its international sales to 76,668.

    The UK-based company is now planning to hire nearly 2,000 extra employees to meet growing demand, bringing its total staff in the country to more than 26,000.

    Around 600 jobs will be created over the next four years at the firm's site near Wolverhampton in the West Midlands.

    More than 500 million pounds are being invested in the centre, where low-emission engines will be built.

    JLR also has design and manufacturing plants in Merseyside and Warwickshire, with a head office based in Coventry.

    The company claims to support over 190,000 UK jobs through its overall supply chain and dealer network and has plans to invest 2.75 billion pounds in its products and facilities in the financial year ending March 2014.

    The latest sales figures are yet another resounding vote of confidence for the Tata Group, which acquired the flagging brands in 2008 amid a global economic slowdown.

    "It is not just our customers who are delighting in our strongest ever vehicle line up, international journalists bestowed almost 200 awards on our vehicles in 2013 with the F-Type, our star performer, receiving more than 59 accolades," said Andy Goss, JLR Group Sales Operations director.

    JLR is one of the UK's largest exporters and generates about 85 per cent of its revenue from exports.

    Tata's Jaguar Land Rover posts record car sales for 2013 - Business Today
     
  5. Himanshu Pandey

    Himanshu Pandey Don't get mad, get even. STAR MEMBER

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    when they are going to put the production process in India rather then britain... this will reduce the cost for them and will be benefited for us.
     
  6. layman

    layman Aurignacian STAR MEMBER

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    As much as i dont like the New Range Rover Sport, But that was a serious snap for TATA to buy into Jags and Rovers for $5B. Much needed influx of funding are the prime reasons for their growth. And Jags are getting better and better with their products specially with their F-Types. The New Chassis of Sport seems to be revelation vering of from the long standing Chassis sharing with other Land Rover.
     
  7. he-man

    he-man Captain SENIOR MEMBER

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    :sarcastic:

    They manufacture in china and britain.

    india is still not conducive for business as compared to china,we need to lower the taxes to have more ppl here
     
  8. layman

    layman Aurignacian STAR MEMBER

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    It is not only taxes...

    1. Reduce Bureaucracy issues on opening production plants.
    2. Reduce the procedures related to the requirements of clearances.
    3. Try to bring all the clearance departments in one place where a investor can deal with all the stuff related under the single roof.
    4. Banking facilities and guarantees need to forthcoming for legitimate business.
    5. Instead of several types of taxes merge these taxes Based on the Type of business or sector into 3 or 4 taxes.
    6. Acquisitions and property can be provided by Govt. on long term loans or as part subsidy.
    7. Norms required of exports has to be relaxed.

    etc...
     
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  9. he-man

    he-man Captain SENIOR MEMBER

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    thats making it more difficult,,,i did not want to give HP a heart attack:sarcastic:
     
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