Business

Jaguar Land Rover reports highest profits since 2015

Jaguar Land Rover credited the production of Range Rover and Defender models at its Solihull factory for achieving pre-tax profits of £2.2 billion.

In March, JLR announced plans to recruit 250 new engineers to work at its facilities in the West Midlands to help develop pure electric vehicles. (Photo: Getty Images)

By: Vivek Mishra

Luxury carmaker Jaguar Land Rover (JLR) has revealed its highest pre-tax profits since 2015.

JLR credited the production of Range Rover and Defender models at its Solihull factory for achieving pre-tax profits of £2.2 billion, reported the BBC.

“The foundation of this performance was the sustained global demand for our modern luxury vehicles, led by our Range Rover and Defender brands,” said Adrian Mardell, CEO.

The company also noted “strong interest” in the electric Range Rover, with a prototype currently undergoing testing in the Arctic Circle.

Prof David Bailey from Birmingham Business School highlighted the wider impact of JLR’s sales success on the West Midlands and beyond, and told the BBC, “JLR is really quite unique in the UK, in sourcing so much of its content from the UK, and the West Midlands in particular.”

“The success of JLR means more orders for the supply chain, more money flowing through the supply chain, and hopefully greater security for jobs,” he added.

In March, JLR announced plans to recruit 250 new engineers to work at its facilities in the West Midlands to help develop pure electric vehicles.