Record sales for Jaguar Land Rover

Record sales over the past year for Jaguar Land Rover have seen profits rocket 34 per cent to a staggering £1.5 billion.

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A rise of almost 30 per cent in new car sales saw profits shoot up from last year’s £1.1 billion total – a £392 million increase.

Revenues were £13.5 billion, up more than £3.6 billion on the previous year.

Land Rover was the driving force behind the glittering full year results, with sales of 260,394 units. The smash hit Range Rover Evoque – MSN Cars Car of the Year 2012 – has been the firm’s key model, with demand far outstripping supply.

The Halewood factory, which MSN Cars visited earlier this year, is now working around the clock to build Range Rover Evoques, such is the demand for the crossover SUV.

Jaguar sold just over 54,000 cars, as its product-led recovery gathers pace too: later this year, the dramatic new Jaguar F-Type will be unveiled.

Other factors behind JLR’s success include growth in emerging markets such as China and India, and a favourable exchange rate with its key worldwide markets: the weakness of British sterling is helping British exporters.

Dr. Ralf Speth, JLR chief executive officer, said: “Today’s announcement of JLR’s financial results is a positive reflection of the continued level of consumer confidence in both of our brands.

“These record earnings, driven by strong product demand and operating efficiencies, give JLR the financial impetus to sustain its ongoing investment programme.”