Jaguar Land Rover Reveals First Quarter Results for FY15/16

The British automaker Jaguar Land Rover has revealed its Q1 results of the current fiscal year. The carmaker retailed 114,905 units from April-June 2015. These sales were broadly on the lines of last year’s number. Though the revenue was down £351 million against the previous year, the company witnessed strong response from North America, mainland Europe and United Kingdom while seeing slow sales in the Chinese market.

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.”

In 2014, JLR retailed 462,209 vehicles which was 6.4 percent more than the preceding year. Out of these, 76,930 units were sold by Jaguar and 385,279 units by Land Rover brand. The British automaker is currently one of the largest exporters from United Kingdom generating over 80% revenue from exports.

The company also plans to introduce 50 new products globally by next five years out of which 12 will launch in the year 2015. India will be getting the affordable XE sedan and the all-new 2016 XF sedan by next year.