In the storm with declining sales in each of its brands, Jaguar-Land Rover just announced earnings quarterly results. An excellent surprise to credit the effectiveness of its austerity policy.
Jaguar-Land Rover posted revenue up 8% in the last quarter, reaching £ 6 billion (€ 6.95 billion), generating pre-tax profit of around £ 156 million (€ 180 million). A good indicator of the financial health of the group after several years of lean cows despite the money injected by its owner, the Indian Tata.
We must see in these good results the fruit of the austerity policy initiated by the group last January, which aims £ 2.5bn (€ 2.9bn) in savings in 18 months. 4,500 job cuts had been announced to achieve this, in the face of disappointing sales and disappointments in major markets, China and India in particular.
Not everything has been won yet, but the future is somewhat different for the two British luxury brands.