2016-08-31 00:45:51

Lower Profits from JLR Due To Slow Sales

Land Rover Range Rover Sport pic

Land Rover from Jaguar gave mixed result in the last quarter in part to the effects of Brexit.

Worldwide sales increased 16% to the company’s volume raised 76% (up to 31,800 cars) in part due to the F-Pace’s popularity. The discussed offering received 4% with 100,900 deliveries. For the first time the model delivered more than 100,000 cars for 3 months.

These numbers show JLR’s slowest growth in these 3 quarters. According to Automotive News Europe, profit after taxes was $399 million (that is 304 million pounds) vs. $646 million (that is 492 million pounds, current rates) in the same quarter last year. Everybody blames Brexit as the devalued pound cost the automaker $272 million (that is 207 million pounds) in losses because of low exchange rates.

Sales are outpacing the worldwide figures in America. Land Rover has provided 57,112 cars in a year through last month. That is a 23% increase over this period of time last year.

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