With a three-fold rise since November 2013, India’s Tata Motors sees 8 percent hike in profits.
India’s largest automaker, Tata Motors sees 8 percent hike in profits, as its net income jumped to $883 million in the second quarter of 2014. This is the biggest rise in profit since the last quarter of 2010.
This impressive growth has been attributed to the company’s deal with Ford five years ago, where it bought Jaguar Land Rover (JLR) for £1.3 billion. It is the roaring demand for JLR’s product portfolio that seems to have driven Tata Motors’ revenue to a 31 percent rise since last year in the same quarter.
Range Rover Sport established itself as a top seller, with an 81 percent rise in demand. However, it was the F-Type that saw its retail sales go up 65 percent, boosting the car maker’s total sales by 12 percent.
Tata Motors’ luxury unit is currently working on its mid size sports sedan, the Jaguar XE. It is reported that the car will be launched next month in London, with its sale being prompted in 2015. It will be the only car in its category to be made on an aluminum frame, enabling the car to get 75 miles on a gallon of fuel.
Photo Credits: The Economic Times
