Jaguar Land Rover double profits

Jaguar Land Rover Double Profits

Jaguar Land Rover has more than doubled its profits in the latest quarter of the year, thanks to strong sales.

According to the carmaker’s parent company, Tata Motors, has said that the boost in sales is attributable to demand for the Range Rover Sport and Evoque models, as well as the Jaguar F-Type.

By the end of June, Jaguar Land Rover’s revenue hit £5.3 billion, a 31 per cent rise over the same period last year. Pre-tax profit more than doubled, up to £924 million from £415 million last year.

Award winning products

Ralf Speth, chief executive of Jaguar Land Rover, said: “This financial performance reflects Jaguar Land Rover’s award-winning product portfolio.

“We are committed to inspire customers with exceptional premium vehicles, delivering the highest standards of quality, technology and customer service. We delight people with experiences that they will love, for life.”

Land Rover’s total sales rose by nearly a quarter to 96,000 with the Range Rover Sport accountable for most of the sales as demand for the model rose by 81 per cent.

Similarly, the F-Type was the stand-out performer for Jaguar, with sales rising by 65 per cent and pushing the marque’s total sales to 19,600.

The Range Rover Sport has won a string of awards, being named the UK’s Best 4x4 at the UK Car of the Year awards earlier in February.

Just recently, Jaguar Land Rover announced specs and pricing for the Range Rover Sport SVR, a new high-performance version of the model that’ll be available to order from October.

High-performance Land Rovers are coming

It will become the first model to wear the new SVR designation that’s due to be adopted by future high-performance Land Rover models.

It can accelerate from 0-60mph in just 4.5 seconds, rivalling the performance of many sports cars, before going on to an electronically-limited top speed of 162mph.

The new Range Rover Sport SVR will be priced from £93,450, while the standard Range Rover Sport has a starting price of £51,550. Finally, pricing for the Jaguar F-Type begins at £51,235.