The owner of Jaguar and Land Rover brands reported a sharp jump in the quarterly net profit on improved margins from lower input prices, recovery in volumes and aided by lower foreign exchange losses.
Sales in the crucial Indian festive season bounced back from a weak year ago period, when the global financial crisis struck by surprise. Revenues rose 13 percent.
If you’re thinking these figures include earnings at the British Jaguar and Land Rover luxury brands, they’re not. It’s just that India is going thru what the rest of the world is expecting from some time. After a dismal 2008/2009, sales of vehicles are picking up again due to lower interest rates and improved customer sentiment.
As the industry is struggling to rise from it’s worst ever downturn, industry-wide sales are expected to grow. Keep in mind that the Republic of India is one of the largest countries worldwide, as population reaches 1.2 billion people. So we’re expecting a larger profit in the future.
If you’re waiting for the first Tata Nano sold in Great Britain, that’s not going to come any time soon, as the car’s sale in the Europe Union is forbidden due to safety regulations. But they can still sell Jags in Mumbai.
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