JLR has reported financial results for the three-month period ending December 31 2019, and things are looking good. Revenues increased to £6.4 billion, up 2.8 per cent year-on-year, and while total retail sales fell 2.3 per cent, sales in China continued to recover (up 24.3 per cent) and sales in North America increased by 1.1 per cent.
The improvement reflected a combination of the higher China volume, stronger product mix (specifically the Range Rover Evoque and refreshed Discovery Sport), lower operating costs (including the Project Charge transformation programme) and favourable foreign exchange.
Despite the many challenges presently facing the industry, Jaguar Land Rover has continued to expect improved profitability and cash flow for the financial year ending 31 March 2020 with an EBIT margin of around 3 per cent, however,…
