{"id":114292,"title":"Jaguar Land Rover announced its highest annual profit in nine years.","publisher":"Share Talk","author":"sharetalk","published":"2024-05-10T11:39:20+00:00","modified":"2024-05-10T11:39:20+00:00","canonical_url":"https://www.share-talk.com/jaguar-land-rover-announced-its-highest-annual-profit-in-nine-years/","markdown_url":"https://www.share-talk.com/jaguar-land-rover-announced-its-highest-annual-profit-in-nine-years.md","json_url":"https://www.share-talk.com/jaguar-land-rover-announced-its-highest-annual-profit-in-nine-years.json","category":"Automobiles, Parts & Engineering","categories":["Automobiles, Parts & Engineering","B2B","Blogs","Business & Support Services","Technology","Technology, Media & Telecoms"],"tags":["battery gigafactory","cars","Citroen","electric car","electric vehicles","European Union","EVs","fiat","India’s Tata Motors","Jaguar","Jaguar Land Rover","Land Rover","Peugeot","Port Talbot.","Range Rovers","Ratan Tata","Rishi Sunak","Somerset","Spain","Stellantis","stolen","Tata","thefts","UK","Vauxhall","vehicles"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/05/Jaguar-Land-Rover.webp?fit=1200%2C800&ssl=1","format":"news","language":"en-GB","content":"Jaguar Land Rover reported its highest annual profit in nine years, driven by “sustained global demand” for its luxury vehicles.\n\nThe automaker recorded a pre-tax profit of £2.2 billion before exceptional items—the highest since 2015—along with record annual revenues of £29 billion. The company’s revenue peaked in the fourth quarter at £7.9 billion, elevating its order book to 133,000 vehicles at the fiscal year-end.\n\nRange Rover, Range Rover Sport, and Defender models comprised 76% of the orders, and the upcoming Range Rover Electric attracted 28,700 prospective buyers to its waiting list.\n\nChief Executive Adrian Mardell commented on the achievement:\n\n“This has been a year of great strategic progress at JLR, and I extend my gratitude to our clients, employees, suppliers, and partners for their contribution to our success.\n\nWe have achieved a record financial performance, generating £2.3 billion in free cash flow, which helped reduce our net debt to £700 million. The cornerstone of our success has been the robust global demand for our modern luxury vehicles, especially our Range Rover and Defender lines, supported by ongoing operational enhancements.”"}