Combined British marques Jaguar and Land Rover have recorded a jump in new car registrations, and total revenues and profit for the fiscal year (FY) 2012/13.
From 1 April 2012 to 31 March 2013, Jaguar Land Rover Automotive recorded a 17.04% year-on-year rise in revenues to £15.8bn and an 11.15% rise in profit before tax to £1.68bn.
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Global registrations between Jaguar and Land Rover totalled 374,636 for the period, up 22% year-on-year.
The company also announced a ‘sustained programme of investment’ expected to reach £2.75bn in products, workforce and infrastructure from now until March 2014.
UK market
Two weeks ago, Jaguar Land Rover confirmed its UK finance operation would be transferring to Black Horse from Fiat Group Automobiles Capital in February 2014.
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By GlobalDataWhile UK funding would be run by the Lloyds Banking Group retail lending arm, finance in continental Europe is planned to remain with the captive partner to the Fiat Group.
As with first-quarter and March results, the domestic UK market accounted for a disproportionately large amount, nearly a fifth, of worldwide sales: up 20% year-on-year to 72,270 for the period.
The figure was only just behind total registrations in China, which were up 48% to 77,075, and ahead of sales in North America, up 9% to 62,959. Total European registrations for FY 12/13 were up by 18% to 80,994, at a time when many manufacturers have experienced a dip in sales on the continent.
richard.brown@timetric.com
