British luxury car company Jaguar Land Rover announced its performance in the second quarter of the 2020/21 fiscal year (July to September 2020). Benefiting from the good performance of the Chinese market this fiscal quarter, Jaguar Land Rover achieved a pre-tax profit of 65 million pounds worldwide.
Image source: Internet
From July to September 2020, Jaguar Land Rover’s cumulative global sales reached 113,569 units, an increase of 53.3% compared to the previous quarter. Among them, the performance of the Chinese market was particularly remarkable, with a quarter-on-quarter growth of 14.6%. As the most important product of Jaguar Land Rover this year, the new Land Rover Defender sold 4,508 units worldwide in September.
With the resumption of work and production in the global production base and distribution network, Jaguar Land Rover's financial performance in this fiscal quarter was also excellent: it achieved 4.4 billion pounds in revenue, and after spending 531 million pounds in investment, it still maintained sufficient cash flow of 463 million pounds.
Image source: official
Adrian Mardell, Chief Financial Officer of Jaguar Land Rover, said: "Compared with the previous fiscal quarter, we are very pleased to see a significant increase in sales, profitability and cash flow. Among them, the year-on-year growth in sales in the Chinese market and the new Land Rover Defender The rapid increase in sales worldwide is very encouraging. With the current good development trend, we are confident that Jaguar Land Rover can achieve better performance in the second half of the fiscal year as the overall market recovers."
A new generation of Land Rover Defenders (Image source: official)
At the same time, Jaguar Land Rover's global electrification strategy is actively advancing. In the current 13 product series, there are 7 plug-in hybrid models, 9 models equipped with light hybrid technology and 1 pure electric model Jaguar I-PACE. Three new models will be launched this fiscal year.
Jaguar Land Rover Global CEO Thierry Bolloré said: “The epidemic has had a huge impact on the global automotive industry, but we still have a solid foundation to ensure long-term sustainable profitability. Over the past few months, I have worked for Jaguar Land Rover. Inspired by our brand heritage and system capabilities, this will also ensure that we can seize opportunities in the rapid development of the industry in the future. I am confident that on this basis, with strong product strategy and financial management, Jaguar Land Rover will face the challenge directly , Go forward bravely."
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