Jaguar and Land Rover hit high income

A near-50% increase in sales to China helped Jaguar Land Rover produce record profits of £1.7bn last year, the Midlands-based, Indian-owned carmaker revealed on Wednesday.

There was even 20% sales growth in austerity-hit Britain, helped by the launch of new luxury Range Rover and Jaguar models, that drove up revenues to £15.8bn – another record.

The strong results – also aided by lower raw material costs and a depreciation of the pound against some key currencies – was a boost to its parent group, Tata Motors, at a difficult time for the wider business. Tata recorded a 37% slump in net income to 39.45bn rupees (£466m) in the last quarter of the company's financial year to 31 March.

Jaguar Land Rover sold more than 77,000 vehicles in China – up 48% – over the 12-month period, with 72,000 staying in Britain, while 80,000 (up 18%) went to Europe, making the group one of Britain's largest exporters by value.


/The Guardian/