Jaguar Land Rover has broken yet another record capping off a fine year of sales for Britain’s largest automotive manufacturer.
JLR sold 521,571 vehicles for the 12-month period ending in March meaning it is the first time the company sales have exceeded half a million.
A 13% rise on the previous year was helped by strong demand from Europe and North America as well as the introduction of the Discovery Sport.
However it’s not all good news for JLR: profit before tax was down from £2.6 billion to £1.56 billion. In part, due to the cost of the Tianjin Port explosion that came to an eye-watering £157 million and the writing off of 6,000 vehicles.
Dr Ralf Speth, Jaguar Land Rover Chief Executive Officer, said: ‘Jaguar Land Rover has produced and sold more cars than at any time in our history. We are now the largest automotive manufacturer in the United Kingdom and our vehicles have received more than 140 awards across the range for design, technology, safety and environmental sustainability.
‘During this fiscal year, we have delivered sustainable, profitable growth and introduced new models - such as the Discovery Sport that have redefined their market segments.’
JLR plans to invest in the region of £3.75 billion in 2016/17 to support continued growth in the future that will include the expansion of global production capacity, new technologies and new vehicles.
The company is in the not-so-bad habit of breaking records recently. In February the Range Rover Evoque became the most successful vehicle in Land Rover history and figures from the Society of Motor Manufacturers and Traders (SMMT) confirmed JLR is officially Britain largest carmaker, overtaking Nissan.
Long may it continue!
Fancy receiving the latest Land Rover news direct to your inbox? Sign up to our FREE newsletter here.