Jaguar Land Rover reports solid first quarter performance

Jaguar Land Rover (JLR) are going great guns, with a solid first quarter performance for 2015-16. Matching the record first quarter sales from the previous year, over 114,905 people managed to drive in these exquisite, luxury machines into their lives.

Mainland Europe, especially the United Kingdom (UK) and North America emerged at the key markets for JLR. The slow-down in demand from China, resulted in a £351 million drop in annual revenue with the final figures coming in at the £5.0 billion mark. Thus, a weaker sales mix has put this pressure on the year-on-year change in figures.

The outlook continues to remain strong however, as sales & employment have doubled over the past five years, while there has been a three times increase in the turnover volumes. The company has committed over £10 billion in new product creation and capital expenditure during this period. Jaguar Land Rover continue to focus on their products and facilities, committing to a tune of £3.6 billion in the current fiscal.

Commenting on the results, Jaguar Land Rover Chief Executive Officer, Dr Ralf Speth said:  “We have delivered solid financial earnings in this quarter despite a challenging macro-economic environment, particularly in China. These results are a testament to our balanced market presence in five international regions.  Demand for our premium vehicles remains encouraging, fully justifying our continued strategy of investing in world-class technologies, manufacturing facilities, skilled employees and services, ensuring that Jaguar Land Rover puts customers first in every part of the business.”

Exports shall continue to have a major bearing on sales, with over 80% revenues coming from overseas markets. Jaguar Land Rover remain on track to their Mission2020 with over 50 launches (new products as well as model refreshes) coming in the next five years, Of-these, 2015 alone shall see over 12 announcements being made.