JLR Hits One Billion Sales
Recently, JLR hit one billion sales. Tata Motors, parent company for Jaguar and Land Rover, recently released their earnings for the fiscal year 2015-2016. Due to strengthening Jaguar and Land Rover vehicle sales, the company enjoyed an increase by 13%. JLR CEO Dr Ralf Speth said about the increase, “Jaguar Land Rover has produced and sold more cars than at any time in our history. We are now the largest automotive manufacturer in the UK and our vehicles have received more than 140 awards across the range for design, technology, safety and environmental sustainability.During this fiscal year, we have delivered sustainable, profitable growth and introduced new models – such as the Discovery Sport , Jaguar XE and XF that have redefined their market segments. Furthermore, we are on track to deliver even more sensational products that will underpin the future performance of the business.” This sales increase totaled 521, 571 vehicles sold, the first time that Jaguar Land Rover has broken the half a million mark.
This exciting growth was also noted in the Q1 earnings, where sales rose 16% over last year. To put this in a monetary perspective, last year Tata Motors concluded Q1 with 17.17 billion rupees (the currency of India where Tata Motors is located) and this year they concluded Q1 with 51.7 billion rupees.