Profits jump at Jaguar Land Rover

Jaguar Land Rover, the Indian-owned car manufacturer, has reported a 34% rise in profits after sales hit a record high.

London: Jaguar Land Rover, owned by India's Tata Motors, today said it will cut 1,000 jobs and reduce production at two units as the UK's biggest carmaker blamed Brexit, slumping sales of diesel vehicles and regulatory issues for its woes. Jaguar sales have fallen 26 per cent and Land Rover dropped 20 per cent this year and the company said it will not be renewing the contracts of 1,000 temporary workers at two factories. Jaguar Land Rover employs about 40,000 workers in the UK and produce over 500,000 vehicles a year.

London (AFP) - Indian-owned luxury car manufacturer Jaguar Land Rover announced a £600 million ($894 million, 814 million euros) investment in advanced car manufacturing in Britain on Thursday.

LONDON: Tata Motors-owned Jaguar Land Rover (JLR) has seen a 15.8 per cent hike in car exports from the UK to India in 2016, riding on the wave of growing number of "affluent buyers" in the country, according to the latest UK automotive industry figures. India is now the eighth largest Asian market for UK car exports with JLR's Land Rover Discovery Sport, Ranger Rover Evoque, Jaguar XF, Jaguar XE and Jaguar F-Pace among the top five most popular models.