For the year ending March 31, 2013, the British firm saw its sales, revenues and profits all reach record levels.
Jaguar Land Rover’s sales were up 22 percent compared with the same period a year ago, closing at 374,636 units.
Revenues, meanwhile, were up 17 percent to 15.8 billion British pounds (approximately $24 billion) and profits, before tax, were up 11 percent to 1.675 billion British pounds ($2.54 billion).
Commenting on the results, Jaguar Land Rover CEO Dr. Ralf Speth said, “The positive result for the financial year demonstrates that we have strong demand for our great, solid product portfolio all around the world.”
Much of the results were on the back of strong sales of Land Rover’s stylish Range Rover Evoque as well as the new Range Rover.
Looking forward, the firm plans to invest around 2.75 billion British pounds ($4.18 billion) in its products and facilities in the financial year to March 2014. Those facilities include new plants in China as well as an expansion of operations in the Middle East.
While Jaguar Land Rover’s outlook is looking rosy, the same can’t be said for the automotive unit of its Indian parent Tata Motors. Hit by weak sales of its Nano city car, Tata Motors’ profit for the past quarter fell to approximately $700 million, according to The Wall Street Journal, though a large portion of this was made up of Jaguar Land Rover’s profit for the period, approximately $564 million.
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