Chinese demand for Jags drives Tata profit
Buoyant demand for Jaguar and Land Rover cars in China helped the British manufacturer double its pre-tax profit to £431m in the second quarter, boosting its Indian parent, Tata Motors.
Jaguar Land Rover (JLR) enjoyed a 29 per cent rise in retail sales volumes, selling 84,749 vehicles in the three months, when it saw China account for over a fifth of its global sales.
The chief executive Ralf Speth said: "In the third quarter, we will see the first customer deliveries of the all-new Range Rover along with the introduction of the Jaguar XF Sportbrake and all-wheel drive versions of the Jaguar XJ and XF."
JLR paid Tata a maiden dividend of £150m, which helped the Indian company post a 10 per cent rise in net profit to 21bn rupees (£241m) between July and September, as it moved from a loss to a stand-alone net profit of 8.7bn rupees.
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