Jaguar Land Rover Helps Bolster Struggling Tata Motors
Jaguar and Land Rover cars raked in strong sales around the globe last year. Strong demand in China, a series of new products, and strong sales of core models have more than doubled quarterly profits for the British automaker. And this success is proving fortunate, considering that it is helping to offset severe sales declines for its India-based parent company, Tata Motors. Jaguar Land Rover sales in North America rose 15 percent last month thanks to volume leaders such as the XF sedan and Range Rover Sport. New products such as the F-Type and Range Rover Evoque have also increased interest in the brands. Sales were also strong in China, now the company's biggest market. Globally, factory deliveries of Jaguar Land Rover vehicles increased 23 percent to 116,357 cars. But sales of Tata-branded cars fell 35 percent to 131,087 vehicles. Tata Motors is suffering from weak demand in India, where it sells a number of compact hatchbacks, midsize cars, and utility vehicles. It recently revealed its first new cars in the past four years: the Bolt hatch and Zest compact, which may help spur sales later this year. But until then, it can thank Jaguar Land Rover for a 39 percent increase in sales overall for the company. Net profit rose to $775 million, far exceeding expectations, once again thanks largely to Jaguar Land Rover. Source: The Wall Street Journal, The Telegraph
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