Jaguar and Land Rover have been doing quite well for themselves lately in terms of a new introductions. The new Jaguar XF mid-size sedan has been a hit product, the range-topping (and high profit margin) XJ is coming, and at Land Rover sales of the Range Rover have held up better than expected.
It appears that those combined factors are helping the Jaguar and Land Rover to move from red to black. In the world of business as well as fashion, black is always in.
India’s Tata Motors, who owns the two British luxury brands, recently reported sales and financial results for the quarter ending September 30th. In that that time, sales for Jaguar Land Rover increased by about 23%, for a total of 44,300 vehicles compared to 35,900.
An operating profit of $68 million was also recorded, which is a $128 million swing from the lost in 2008 $56 million. Consolidated net profit was only $4.7 million, but being in a profit right now at all is something to cheer.
It is quite an unexpected turnaround to happen so quickly. If things continue, Jaguar Land Rover should be well in the black as global economy begins to rebound and sales increase. Hopefully, the new XJ will be a success – early indications show that it could be.
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