Jaguar Land Rover Returns to Profit

Jaguar Land Rover is back in the profit zone, as the company has posted a pre-tax business increase of $46 million (32 million pounds) for the 2009-2010 fiscal year, which ended on 31 March.

The company registered the best financial results in the third and fourth quarters of the financial year, when Range Rover updated its line-up, introducing the new Discovery, Range Rover and Range Rover Sport models.

The company’s sales reports show that its sales saw a 25 percent increase in the last financial year, compared to the results registered a year before. JLR produced a total of 193,982 units during the fiscal year compared to 167,348 vehicles in the 2008-2009 fiscal year.

With the positive market reception of the enhanced product range in an improved market environment as well as continued cost reduction efforts, the business was able to show sustained quarter on quarter improvement towards solid profitability in Q3 and Q4,” Tata Motors, the owner of JLR said in a press release. “Jaguar Land Rover retail sales improved favorably in the second half of the year, after addressing the effects of the global economic turndown and launching new model year products.”

Jaguar Land Rover’s latest development plans include the development of hybrid powertrains for both Land Rover SUVs and Jaguar cars. After securing a 340 million pounds loan from the European Investment Bank and creating a dedicated team of experts for the project, the company is planing to launch the first hybrid Range Rover, dubbed the Range_e, in 2013 and the first hybrid Jaguar by the end of 2014.
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About the author: Andrei Tutu
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In his quest to bring you the most impressive automotive creations, Andrei relies on learning as a superpower. There's quite a bit of room in the garage that is this aficionado's heart, so factory-condition classics and widebody contraptions with turbos poking through the hood can peacefully coexist.
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