BOOST: Economic boom from global player
Up 13% on the same period last year, Jaguar Land Rover Automotive plc have strongly begun the 2013/2014 fiscal year with first quarter revenues of £4,097million.
Retail sales increased 10% year on year to 94,719 vehicles, reflecting strong demand for all Jaguar and Land Rover product offerings, including the new F-TYPE and all-new Range Rover.
Profit before tax also increased for the period by 25% from £333miliion to £415million.
The company generated positive sales growth in all regions: Asia Pacific up 37%, the UK up 13%, China up 11%, North America up 10%, Europe up 3%, and other overseas markets up 11%.
Dr. Ralf Speth, Chief Executive Officer at Jaguar Land Rover, said: “The result for the first quarter demonstrates that our full range of new and upgraded products is exciting our customers.
“Our focus is to put our customers at the very heart of everything we do.
“With our appealing British led design and innovative engineering, we remain committed to exceeding customer experiences in all areas of our business.”
Named Responsible Business of the Year by Business in the Community (BITC), Jaguar Land Rover will invest circa £2.75billion in its products and facilities in the financial year to March 2014.
In the 12months to 31 March 2013, Jaguar Land Rover generated profit before tax of £1.675billion with revenues of £15.8billion.