Jaguar Land Rover posts highest-ever sales figures
04 Jun 2016
Jaguar Land Rover, riding on the back of the soaring popularity of its latest models Jaguar XF, XE and Land Rover Discovery Sport, recorded its highest ever sales figures in the recently concluded financial year. The company sold a total of 5,21,571 units in the period.
This is the first time the company has crossed the half-million sales mark, but while raw numbers paint a bright picture, the company's profits have actually dropped. JLR's pre-tax profit figure dropped to £1.56 billion (Rs1,5205 crore) from £2.6 billion (approximately Rs25,342 crore).
The revenue took a dip after the Tianjin port explosions that resulted in damages amounting to £157 million (Rs1530 crore), including around 6,000 cars that had to be scrapped. The company also recalled several cars in the USA to fix the defective airbag inflators supplied by Takata, resulting in an additional expense of £166 million (Rs1,618 crore). Sales in China also witnessed a slowdown.
The British carmaker will however continue its investment offensive. This year, the company plans to invest in the region of £3.75 billion (Rs36,551 crore) to develop new models, introduce new technologies and expand its global production capacity.
Dr Ralf Speth, Jaguar Land Rover's chief executive, said, "Jaguar Land Rover has produced and sold more cars than at any time in our history. We are now the largest automotive manufacturer in the United Kingdom and our vehicles have received more than 140 awards across the range for design, technology, safety and environmental sustainability.''
JLR is currently the largest automobile manufacturer in the UK and generates over 80 per cent of its revenue from exports. The company is banking on all-new models like the Jaguar F-Pace and the Range Rover Evoque convertible to drive in more numbers this year.
