JLR to edge beyond £1 billion quarterly profits

Jaguar Land Rover Automotive plc (JLR) achieved profit before tax of nearly £1 billion for the first quarter of its 2014/2015 financial year.

The company’s strong sales volumes have resulted in revenues for the period of £5.353 billion.

With an actual profit before tax increased to £924m for the quarter, this reflects the growth in volumes and revenue as well as strong product and geographic mix. 

Jaguar to double sales in three years

Jaguar will double its annual sales to a six-figure total within the next two or three years as a result of the new powertrains, body variants and drive systems it has introduced in the past 12 months, according global brand director Adrian Hallmark.

The company now offers four-wheel-drive versions of the XF and XJ saloons in markets prone to bad winters or plagued by poor roads; has added a Sportbrake (estate) version of the XF in Europe; and has introduced a 2.0-litre engine to avoid China's steep taxes on larger engines, plus supercharged 3-litre V6s which bring down the average CO2 emissions of the range and help to offset declining buyer interest in V8s.

Both Jaguar and Land Rover import these 2-litre EcoBoost engines from Ford’s engine plant in Valencia – see previous story. The engines are customised to JLR’s specification.