Jaguar Land Rover profits by £1.1 billion in FY 2011
Economic Times reported earlier today that Tata Motors owned British car making brand, JLR has registered profits of £1.1 billion in the 2011 financial year….
Economic Times reported earlier today that Tata Motors owned British car making brand, JLR has registered profits of £1.1 billion in the 2011 financial year. Tata Motors JLR will officially declare about their profits later this week.
Bought from Ford Motors in 2008 for a record $2.3 billion, Tata Motors has completely changed brand JLR within 2 years of management. JLR is expected to announce profits worth £1.1 billion which will include gains from last year worth £32 million and loss of £281 million which were incurred by JLR in the first 10 months after Tata took over.
Last time JLR made record profits was in 2007 FY, worth £300 million when it was owned by Ford Motors. The main reason behind this turnaround in profits is due to the new emerging markets like China and India, stated the report.
Sales figures of Land Rover in China for March 2011 was up by 33% while that of India was up by 61%. Other emerging markets include Germany and Russia where JLR has registered a 49% and 70% increase respectively.