JLR, formerly Jaguar Land Rover, is booming again after shaking off an extended period of financial gloom that started in China over five years ago and was compounded by the Covid crisis.
The company reported its highest quarterly profit in six years for the three months ending December 31 and posted an nine-month profit margin of 8.3%, putting it on course to beat the 7% it promised in the dark days of 2021 it would achieve for the full 2024 financial year ending March this year.
The turnaround has been fuelled by higher sales of its most profitable Range Rover, Range Rover Sport and Defender models, which the company can now build in sufficient enough quantities to generate healthy profits-before-tax (EBIT) of £1.5
