Jaguar Land Rover has recorded a strong performance in Europe and North America in the first fiscal of the present financial year. While things do seem jolly there, China, which has become a major market for their products has dipped a little. Unperturbed by this, the company has planned a very ambitious year ahead.
JLR plans to invest 3.6 billion pounds in the financial year 2015-16. To give you an idea how huge this is, in the last five years the group has invested 10 billion dollars in new products and capital expenditure. The company has plans to make 50 product actions in the next five year period. These will include new products as well as facelifts.
Of these 50 product actions, the company intends to hit 12 by the end of 2015! Now that’s an ambitious plan. They have doubled their sales and employment in the past five years and have also tripled their turnover. Their revenue for the last quarter (April-June 2015) slipped returning 5 billion pounds, which is a drop of 266 million pounds on a year on year basis. A slowing Chinese market being the primary culprit for this.
The first of these new products will be the 2016 XJ update scheduled to go on sale in autumn this year which will be followed by their first SUV, the F-Pace.