Despite Jaguar unveiling stunning new models such as the XF and sales of the Range Rover luxury SUV still going strong, the Jaguar Land Rover partnership were still unable to turn a profit for 2008, even coming from a positive start to the year.
Things are starting to change, however, with Jaguar Land Rover returning to profit this past quarter on the back of aggressive cost cutting and improved sales.
Jaguar Land Rover has reported an operating profit of $68 million for the quarter ending September 30. This is up from a loss of $56 million in the same quarter a year ago.
Over the three month period, Jaguar Land Rover experienced an increase in sales of about 23% to 44,300 vehicles.
Note, however, that these results are for Jaguar Land Rover’s operations and don’t include the cost of the debts incurred by Tata Motors, the parent company of Jaguar Land Rover, in acquiring the British automakers and keeping them running.