Jaguar Land Rover announce record profits

Jaguar Land Rover unveiled record pre-tax annual profits of £1.67bn this week as total world sales increased 22% to almost 375,000 vehicles.

The results are part of a stunning success story for its Indian owner Tata who bought the company five years ago for less than the UK company made in profits over the last year.

The figures have prompted some to call the acquisition the ‘deal of the century’ for its Indian owner as the luxury autos they produce sell as fast as they roll off the production line.

Jaguar Land Rover Chief Executive Dr Ralf Speth said the numbers demonstrated a strong demand for the company's products.  He said;

"We invested significantly in the product creation process, in our advanced manufacturing sites and created more than 3,000 jobs." 

During the 2012-13 financial year, the company introduced the all-new Range Rover and the Jaguar XF Sportbrake.

The record figures from JLR and other foreign owned car manufactures BMW, Nissan and Honda has meant that the UK is now exporting more cars than are imported for the first time in 35 years – all in the middle of an economic downturn.

The company’s success story has been further been boosted by growth of the China and Asian Pacific markets and the increased demand for luxury goods.

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