New models, Chinese growth and cost-cutting drive help British firm to bounce back from recent heavy losses
James Attwood, digital editor
25 October 2019

Jaguar Land Rover boss Ralf Speth has said the firm’s turnaround programme is firmly on track after it returned to profit in the latest financial quarter.

Hit by falling sales, the British firm posted a £395 million loss between April and June of this year. But it turned that around in the quarter running from July to September, recording a £156m pre-tax profit – a £246m year-on-year improvement.

The improved results were driven by Jaguar Land Rover’s revenues rising to £6.1 billion, an 8.0% year-on-year increase. Although retail sales dipped by 0.7%, the firm boosted its performance in China, where sales grew 24.3%. 

The arrival of the new Range Rover Evoque also helped, with sales of that model up 54.6% compared with the same quarter a year ago. Range Rover Sport sales rose 17.5% over the same period.

Jaguar Land Rover has been undergoing a massive £2.5 billion cost-cutting and restructuring programme, named Project Charge, and Speth said the improved results reflected the success of those efforts. The firm has already achieved £2.2bn in efficiency savings and is on track to reach its goals by the end of March 2020. It has also invested in new facilities, such as the recently opened Product Creation Centre.

“Our people have responded very positively to the challenging circumstances over the past year,” said Speth. “The improved performance this quarter reflects their ongoing passion and determination.”

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Comments
34

25 October 2019
...and relax. The crisis for the national treasure is over. So the lessons learned are??

25 October 2019

As to lessons learned, maybe ignore JLR trolls.

25 October 2019

People have been too quick to rush to judgement. This is a company that relative to its size has made huge investments not just in new models but in new factories, plant and tech. Only Tesla has managed to do more really but they nearly always lose money.

Land Rover have really only made one mistake so far and that’s been in the styling of the Discovery. How many other times has Land Rover got anything wrong? If the Doscovery is it’s biggest product failure most car companies would be happy with that, they’ve never had a Scorpio for example.

Jaguar’s problems are bigger but keep it in perspective. The F pace and R Pace have been a sucess. The F type is performing my probdbly as expected and the I Pace is breaking new ground and gaining popularity all the time. The problem children are the XE and XF, and would the XF be a problem if the XE was deleted from the range? 

Remember how far they’ve come in the last decade, surely they deserve some credit?

25 October 2019
TStag wrote:

This is a company that relative to its size has made huge investments not just in new models but in new factories, plant and tech

and don't forget its apprenticeship program.  If I had my time again that's what I'd be applying for.......

25 October 2019

Jaguar have been going for nearly 100 years and is still bumbling from one crisis to another, hence its indian ownership after waddling over from the americans

Tesla has changed the automotive world in 15 years and contnues to do so.

Gawd, talk about desperate comments

26 October 2019
lambo58 wrote:

Jaguar have been going for nearly 100 years and is still bumbling from one crisis to another, hence its indian ownership after waddling over from the americans

Tesla has changed the automotive world in 15 years and contnues to do so.

Gawd, talk about desperate comments

lol at the fanboy.. Elon wants you for a sunbeam..

Tesla sent a shock to the system, granted, but now they are becoming less and less relevant as the mainstream manufacturers are catching up, and the only USP Tesla have left is that it goes fast in a straight line, and a charging network, now that the likes of BMW, Audi, Jaguar, Mercedes and Volvo even Kia/Hyundai and shortly Polestar are producing EV's the general public are realising they dont have to put up with dodgy build quality, weird interiors and poor dealership networks, extended waiting times and missed delivery deadlines.  

26 October 2019

Yawn

The idiot returns without a single idea about musks mission statement.

Or maybe hes just plain stupid.

Yup, that's it. Just plain stupid

25 October 2019

Sorry, Whats an R-Pace ?

25 October 2019

The ones that were whining over and over in each JLR article about how shitty the company and its products are. 

Especially the British whiners that could not sleep so much they wanted their OWN company, the company providing jobs to their countrymen and countrywomen, to fail. 

Whiners - you make me wanna puke, you are pathetic nobodies.

25 October 2019

Where are the whiners? They're desperately trying to come up with a way to spin the company's return to profitability after a few big wobbles over the past 18 months as a negative. 

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