Jaguar Land Rover Records 29% Growth in Sales

The British luxury major, Jaguar Land Rover PLC has today reported its second quarter results for the 2012/2013 fiscal year (Q2 FY13) as £431m profit before tax, a 100% increase on the same period in the last financial year (2011/2012 fiscal year £216m). The positive result in the second quarter reflects a 29% increase in retail sales volumes (84,749 vehicles in total) globally. The company has generated revenues of over £3.2bn (an increase of £373m).

Commenting on the results, JLR Chief Executive Officer, Dr. Ralf Speth said: "Jaguar Land Rover has delivered another quarter of positive results against a challenging economic backdrop. We continue to see strong sales across all of our key markets." "Jaguar Land Rover will continue to invest in its products, plants and will drive further growth by spending in the region of £2bn across the financial year." 

Dr Speth continues. "In the third quarter, we will see the first customer deliveries of the all-new Range Rover along with the introduction of the Jaguar XF Sportbrake and all-wheel drive versions of the Jaguar XJ and XF." Jaguar Land Rover has created over 8,000 new jobs in the last two years to support its ambitious investment and growth plans. This includes 1,100 new jobs at Castle Bromwich; 1,000 new manufacturing posts at the Solihull plant; 1,000 jobs at Halewood and 1,000 engineers.

Jaguar Land Rover moved to three shifts at both its Halewood and Solihull plants during the first half of the financial year to support the increased demand for its products globally. Jaguar Land Rover invests more in research and development than anyone else in the UK automotive sector and is in the top 10 across all sectors of the British economy.