China poised to overtake the UK and become JLR's largest market; massive Evoque sales fuel surge

China is on course to become Jaguar Land Rover's largest market, its latest trading figures have confirmed.

The group announced pre-tax profits of £1.5bn in 2011-12, up from £1.12bn year-on-year. In total, JLR sold 314,433 vehicles, a 29.1 per cent rise year-on-year. Land Rover accounted for 260,394 sales, Jaguar 54,039.

Although Britain remained the largest market, with sales of 60,022 vehicles, up 3.2 per cent year-on-year, Chinese sales rose by 76 per cent to 50,994 car sales. With sales in China accounting for nearly a fifth of all JLR sales in the first three months of 2012, that market is expected to overtake Britain this year.

The group’s rapid growth looks set to continue. Pre-tax profits for the first quarter of 2012 were £530m, up from £299m year-on-year. Much of the success has been driven by sales of the Range Rover Evoque; approximately 60,217 were sold in the first three months of this year, of 83,903 total Land Rover sales.

JLR now exports 80 per cent of its production.

 

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14

30 May 2012

Good for JLR .

 Even more interestingly sales are up for JLR in France and Germany too by around 20% . Even against a weakening Euro .

R32

30 May 2012

The only thing that annoys me about this is that JLR got a very large multi-million pound handout from the government when the recession kicked in way back, despite the fact that at the time JLR was already foreign-owned by Tata.  One assumes the government did it to save jobs at JLR but the truth of the matter is that the money could have gone to save jobs elsewhere - particularly small/medium businesses - many of whom didn't survive.  Now that JLR is absolutely raking it in, wouldn't it be nice if JLR handed back the government millions?  Fat chance, I think.

30 May 2012

R32 - as I understand it JLR got nothing from the Government during the financial crisis, despite there being lots of noise about this, over and above the normal support provided to business for things like re-training of staff.  There are strict EU guidelines that prevent such aid.

And there will have been plenty of 'payback' to the Government: think if all the income tax and NI being paid on the salaries of the thousands of extra staff JLR has employed as it has grown - on the back of billions of pounds of Tata investment, not down to the Government.

30 May 2012

Eric_Halfabee wrote:

And there will have been plenty of 'payback' to the Government: think if all the income tax and NI being paid on the salaries of the thousands of extra staff JLR has employed ....

Not forgetting the VAT on all the extra new cars sold in this country, (but then I guess that they have that from all manufacturers).

30 May 2012

Eric_Halfabee wrote:

R32 - as I understand it JLR got nothing from the Government during the financial crisis  There are strict EU guidelines that prevent such aid. 

That last bit should have continued with the words "which most EU governmnts just ignore".

"Guidelines" in EU terms means they are optional in reality.


Enjoying a Fabia VRs - affordable performance

jer

30 May 2012

The only thing that annoys me about this is that JLR got a very large multi-million pound handout from the government

I stand to be corrected but I am not sure Tata got much in the end. The financial amounts the government give to support our best manufacturing and engineering companies always looks pathetic to me next to the big numbers government deals with in defense, health and social security and  lest we forget bank bail outs. I'd love to see the government do more - investment, grants, research etc. instead of this crap that government can't create growth.

30 May 2012

The 60,217 Evoque sales were wholesale volumes for Apr 11 to Mar 12 versus total LR sales of 260,394

For Q1 2012, Evoque wholesale volumes were 28,166 out of 83,903 total LR volumes.

This is the link to the JLR FY11/12 presentation:

http://www.tatamotors.com/investors/pdf/2012/JLR-FY11-12-results-presentation.pdf

30 May 2012

"Approximately 60,217"

It's not exactly approximate is it?

30 May 2012

UK Land Rover dealers wont be pleased about this - JLR will just send even more of its production capacity to China where profit margins are vastly higher and starve UK dealers of even more stock when they are already up in arms about the lack of new cars the factory will give them to sell.

30 May 2012

JLR asked HM gov for ten million they got a very round figure . Zilch . Despite that the Indians saw fit to invest in JLR and are now reaping the rewards but so are many folk that live and work in Solihull etc .

Ergo HMGovs say lots but do sweet FA to support business . They would much rather look after all their rich banking mates or newspaper moguls.

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