Just now on the Financial Times website

Jaguar Land Rover returned to profit last quarter following a sales bounce in China and cost cutting across the business, providing a rare bright spot in an industry beset by falling sales and rising costs.

Pre-tax profit for the three months to September was £156m, compared with a loss of £395m the previous quarter, and a £90m loss in the same period a year earlier.

Sales in China, a market that was once its growth engine but where JLR has struggled in recent quarters, climbed by 24 per cent, driven by new products such as the entry-level Range Rover Evoque.

JLR’s revenues rose 8 per cent to £6.1bn, driven by customers buying more expensive models.

However, besides the new Evoque, sales of its cars fell across the line-up, with retail sales down 0.7 per cent. Only five of its 13 models saw increased demand, while only one Jaguar model, the electric I-Pace, saw sales rise.

The group is in the middle of a £2.5bn turnround plan to cut costs and refocus the business, following deep losses in China and the decline in demand for diesel cars that account for the vast majority of its UK and European businesses.

“Our people have responded very positively to the challenging circumstances over the past year,” said Ralf Speth, chief executive. “Jaguar Land Rover has returned to profitability and revenue growth. This is testament to the fundamental strength of our business, our award-winning products, new technologies and operating efficiencies.”

The previous quarter, where it booked a £395m loss, was affected by the closure of several sites during April in preparation for Brexit. The group is planning to shut sites during November, under plans drawn up under the expectation that the UK would leave the EU on October 31.

The company’s profits cap a difficult week for carmakers’ earnings, with companies from Ford to Daimler stung by China’s volatility and trade war. 3 x FL1 2 manual + 1 auto
5 x FL2 4 manual + 1 auto
Now Discovery Sport P250 MHEV SE

It’s good to see some +ve news (from any angle) for once

Ever notice how an article reporting on JLR’s sales woes attract a lot of comments, but a positive story doesn’t?

Yes tales of LR gloom spread across the disco sport forum like wild fire, say something complementary about LR and you get banned from the forum. At work
At home

"I can't always believe facts I read on the web" - Charles Dickens

winner by default of the tractor vs caravan race

'Tis always good to be in the black........

chicken george wrote:

Yes tales of LR gloom spread across the disco sport forum like wild fire, say something complementary about LR and you get banned from the forum.

Hopefully the new Defender will continue to keep the money coming in.

I’ve had my moments with this Velar where I was ready just to walk away from the brand, but sitting in other cars made me realise that it’s LR for me no matter how bad things get. 21MY Defender 90 S 3.0 D200