High sales good news for Tata

Demand for Jaguar and Land Rover cars in China helped the British manufacturer double its pre-tax profit to £431 million ($841 million) in the second quarter, boosting its Indian parent, Tata Motors.

Jaguar Land Rover enjoyed a 29 per cent rise in sales, selling 84,749 vehicles in the three months, when it saw China account for a fifth of global sales.

Chief executive Ralf Speth said: "In the third quarter, we will see deliveries of the new Range Rover along with the Jaguar XF Sportbrake and all-wheel drive versions of the Jaguar XJ and XF."

JLR paid Tata a dividend of £150 million, helping the Indian company post a 10 per cent rise in net profit to 21 billion rupees ($472 million) between July and September, as it moved from a loss to a net profit of 8.7 billion rupees.

- Independent

© Copyright 2014, APN New Zealand Limited

Assembled by: (static) on red akl_a3 at 23 Jul 2014 05:31:51 Processing Time: 449ms