Jaguar Land Rover ups sales

City A.M. Reporter
JAGUAR Land Rover aims to sell 100,000 cars in China this year, its chief executive Ralf Speth told reporters yesterday.

Parent company Tata Motors posted a 23 per cent fall in quarterly profit as higher sales of its luxury Jaguar Land Rover (JLR) vehicles failed to offset sagging sales at home.

JLR reported revenues of £4.1bn for the first quarter of the fiscal year, up 13 per cent on the same period last year.

Profit before tax soared 25 per cent to £415m. However, this growth did not make up for a sharp drop in earnings at Tata Motors, which posted net profit of $281m (£181m) for the quarter.