Jaguar Land Rover sees higher incentive costs amid competition

Range Rover Is Introducing Reductionism As A New Brand Design Tenet

Consolidated revenues for the quarter are lower by Rs7,761 crore due to the impact of conversion from United Kingdom pound to Indian rupee, the company said.

The company was also impacted by lower volumes at JLR, de-growth in medium and heavy commercial vehicles (M7HCV), flat demand in the light commercial vehicles (LCV) space and moderate growth in the passenger auto segment.

Indian automobile manufacturer Tata Motors Group has witnessed 12 per cent growth in its global wholesales for the month of July 2017, including Jaguar Land Rover, and stood at 98,534 units.

Net sales for Tata Motors dropped 10% to ₹58,651 crores in the quarter which ended in June 2017.

Consolidated profit before tax for the quarter was Rs.3,737 crore, against Rs2,551 crore for the corresponding quarter of fiscal 2016-17.

In July, JLR sold 46,074 vehicles, an increase of 3.6 per cent compared to the same month past year. The company registered a profit of ₹32oo crores, up 41% from ₹2260 crores in the same period a year ago. "Our focus on top-line, market share growth, major cost reduction initiatives and efficiency improvements have been significantly enhanced and accelerated in the last few months", Tata Motors Managing Director and Chief Executive Officer Guenter Butschek said.

This was offset by seasonality of first-quarter sales following a strong fourth quarter, plus the "continuation of launch and growth costs", it said.

Demand grew by 30% in China, helped by the success of the market-specific Jaguar XFL, which boosted XF sales by 22%.

Revenue for the quarter was £5.6 billion, up £244 million.

The profit includes a one-time credit of £437 million related to the company's pension plans.

Jaguar Land Rover (JLR) on Wednesday announced opening of bookings for the all-new Land Rover Discovery at any of its 25 authorised retailers as well as online.

"The foundation of our journey of sustainable, profitable growth continues our investment in products, plants and people as we become a technology-driven company", said Ralf Speth, CEO, JLR.



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