May 18, 2021
Jaguar Land Rover boosted by sales rebound in China and US
Jaguar Land Rover made £534m of profit between January and March as car sales rebounded in China and the US, although the company fell to a full-year loss after writing off the costs of old technology. Revenues in the quarter to March were up 20 per cent to £6.5bn, but over the whole year they were down 14 per cent at £19.7bn despite stronger sales from China. The company expects to have phased out any sales of non-hybrid or electric models by 2025, Bolloré told the FT's Future of the Car summit last week. "Bolloré, who joined in September, said on Tuesday:"In my first set of full-year results as CEO of Jaguar Land Rover, I have been encouraged by the company's resilience and strong recovery during a uniquely challenging year. "Jaguar Land Rover is well placed to emerge from the pandemic as a stronger and more resilient company that is able to navigate and capitalise on the opportunities ahead.".
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