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JLR Jaguar Land Rover, the Tata-owned manufacturer of prestige sector cars, suffered a financial setback during its fiscal year ending March 31 this year
During the fiscal year ending March this year the UK-based prestige-sector car maker increased its global sales thanks in no small measure to China’s ravenous appetite for trendy SUV-Crossovers.
But even so, Jaguar Land Rover’s pre-tax fiscal year profit margin - 3.8% EBIT - has now dropped below mass-market levels.
Yet another bugbear for JLR’s Tata parent, during the opening three months of this year - the company’s fiscal 4th quarter - JLR’s downturn in sales deepened in both the UK and EU Europe, while underlying growth in its Chinese sales almost halved.
Driven by intensifying sales woes at home and the rest of today’s EU Europe, JLR’s 4th quarter retail sales eased back 3.8 per cent to 172,700 units.
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