Profits jump at Jaguar Land Rover

Canadian auto sales hit a record in July as cars and trucks continue to fly off dealership lots at a blistering pace in 2013. Canada is not the only country experiencing strong demand from consumers with a dearth of used vehicles in the market four years after the recession, when fewer cars were taken on leases and are coming off lease now. Global auto sales are on pace to hit a record in 2013, a remarkable turnaround for the industry that was in the midst of a crisis just four years ago.

Indian-owned luxury carmaker Jaguar Land Rover said Tuesday that it will create 1,700 jobs at a British plant in a £1.5-billion ($2.4-billion, 1.8-billion-euro) investment.The new jobs will be created at its factory in Solihull, near Birmingham, said a statement from Jaguar Land Rover, which is owned by India's Tata Motors."Jaguar Land Rover today announced an investment ... to introduce an all-new technically-advanced aluminium vehicle architecture in forthcoming models," it said.