Jaguar Land Rover Automotive plc, the UK’s largest vehicle manufacturer, today reported its financial results for the three-month period ending 30 June 2018. Retail sales for the quarter reached 145,510 vehicles, up 5.9% on the previous year. The increase reflects growing sales of the new Range Rover Velar, Range Rover Sport, Land Rover Discovery and Jaguar E-PACE. However, wholesales (including China JV) were 13,950 units lower than retails, primarily reflecting lower wholesales in China in advance of the reduction in import duties from 25% to 10% on 1 July and production scheduling to de-stock inventories in other markets.
Aston Martin Holdings (UK) Ltd, the designer and manufacturer of luxury handcrafted sports cars, today welcomed the decision by S&P Global Ratings to upgrade its credit rating for the company. S&P has upgraded the company and its senior secured notes to ‘B’ from ‘B-‘, on the back of a consistent improvement in its operating and financial performance. In 2017, Aston Martin delivered record revenues, with profits growing by a quarter of a billion pounds as unit sales exceeded 5,000 for the first time since 2008.
Marking a major milestone in the history of Lotus Group International Limited (LGIL), the company finishes the financial year 2016/17 on plan. Lotus closed the year with positive EBITDA of £2.0m, a major achievement compared to 2015/16 where a £16.3m EBITDA loss was recorded. There has also been a significant improvement in Profit Before Tax. From a £41.2m loss in FY15/16 to a £11.2m loss overall in FY16/17, with the company recording a Profit Before Tax improvement of £10m in the second half of FY16/17 compared to the first six months of the year. Looking ahead, it allows Lotus to concentrate on the next stage of the business’ development, and a return to full year Profit Before Tax for FY17/18.
Jaguar Land Rover Automotive plc (JLR), the UK’s largest vehicle manufacturer, today reported a strong fourth quarter to finish the fiscal year with solid results demonstrating encouraging demand for both new and established models in the period to March 31, 2017. Retail sales were a record 604,009 vehicles, up 16% on the previous year led by the 2017 World Car and World Car Design of the Year award-winning Jaguar F-PACE and continuing strong demand for the Land Rover Discovery Sport and other models in the Jaguar Land Rover portfolio. Retail sales were up year-on-year in China (32%), North America (24%), the UK (16%) and Europe (13%).