Sights set for China as Jaguar Land Rover double profits

Jaguar Land Rover's Castle Bromwich plant
Jaguar Land Rover's Castle Bromwich plant Photo: PA

Jaguar Land Rover has doubled its profits from £215m to £431m - a 100 per cent increase on the same period last year.

It sold 84,749 cars - a 29 per cent increase.

It's yet another sign of the rapid growth of the company which generated revenues of £3.2bn.

The biggest driving force by far is the Range Rover brand and later this month the company will announce that it's going to build cars at a plant in China for the huge Chinese market.

It's already building a new engine plant near Wolverhampton. It's also looking to produce cars in India and Brazil.

Land Rover's on the production line in the West Midlands
Land Rover's on the production line in the West Midlands Credit: ITV Central

Range rovers are selling there in huge numbers.

The Range Rover models are made at the company's plant at Solihull in the West Midlands.

The Evoque - an SUV in the Range Rover family - and a huge seller in China and America - is made at Halewood on Merseyside.

Range Rover Evoque cars, made by Land Rover sit at the docks in Southampton awaiting export.
Range Rover Evoque cars, made by Land Rover sit at the docks in Southampton awaiting export. Credit: PA

This year the company has brought out a new Range Rover, a new Jaguar estate and a sports car - the F Type.

In the last two years the company has created 8,000 new jobs - 1,100 at the Castle Bromwich factory where they make Jaguars, and 1000 at Solihull.

Jaguar Land Rover's Castle Bromwich plant
Jaguar Land Rover's Castle Bromwich plant Credit: PA

It employs 25,000 around the world and 80 per cent of all the cars it makes go for export.

Today, Ralf Speth the CEO of the company said:

"Jaguar Land Rover will continue to invest in its products, plants and will drive further growth by spending in the region of £2bn in the financial year."

The company is owned by Indian conglomerate, Tata which said it will bring out 40 new models.