Jaguar Land Rover records profits after decades of losses
Jaguar Land Rove could make a major turnaround in its fortunes when it made profits after being a loss making unit for decades. This car maker is on an expansion mode and is planning a new £750million engine plant expected in either Wolverhampton, South Wales or India and is likely to request for government grants if the jobs and production are to be in Britain.. The company owned by India’s Tata Motors reported an increase of over 51 percent increase in its revenue.
The company attributed various factors like higher sales volumes, improvements in margins and efficiency and a favourable foreign exchange rate environment for its impressive show. The turnaround comes just weeks after Jaguar this month announced it is to build a £900,000 petrol-electric hybrid British supercar, the most expensive and ‘greenest’ Jaguar in its history, the CX75. It has charted out an ambitious plan of £1bn a year expansion over five years that will not only create many new jobs but also will double up the sales of vehicles from m 5 year expansion plan and expansion plans in India and China.
The company attributed various factors like higher sales volumes, improvements in margins and efficiency and a favourable foreign exchange rate environment for its impressive show. The turnaround comes just weeks after Jaguar this month announced it is to build a £900,000 petrol-electric hybrid British supercar, the most expensive and ‘greenest’ Jaguar in its history, the CX75. It has charted out an ambitious plan of £1bn a year expansion over five years that will not only create many new jobs but also will double up the sales of vehicles from m 5 year expansion plan and expansion plans in India and China.