Jaguar Land Rover may have been beaten, degraded and misunderstood by its former keepers Ford but under new Indian owners its seeing a surge in demand like never before. Increasing JLR vehicle sales have enabled Tata Motors, JLR parent company, to triple its first quarter net earnings and cover losses in its home market of India.
Tata’s net profit increased to 660 million euros (54 billion rupees) rupees in the first fiscal quater, the surge was due to the combined efforts of Jaguar and Land Rover. JLR’s Pre tax profits doubled to nearly£1 billion euros, up from £415 milion pounds during the same period in 2013.
The Jaguar F-Type convertible and Range Rover SUVs underscore demand which is up by 22 percent in the quarter to 115,596 vehicles.
JLR’s success is in stark contrast to Tata Motors which is reportedly treading water within its domestic car and truck market. Tata acquired Jaguar Land Rover in 2008, ironically turning around the stop/start fortunes of the luxury English auto brand.
Jaguar will be returning to the compact premium executive market with the XE which is seen as a rival to the BMW 3 Series and Mercedes. The XE will be the only car in its class to feature an aluminium platform and will JLR’s newly developed 4-cylinder, 2.0-litre diesel engine.