While the Indian economy is indeed booming, for Indian automotive maker Tata, it is its UK assets that are driving profits. Tata, which bought JLR from Ford in 2008 for 2.3 billion dollars, has seen its profits increase by 41% in the three months to December, compared with the same period in 2010 – amounting to 441 million pounds.
Spurred on by 32,000 sales of the Land Rover Evoque, the JLR arm of Tata saw overall sales increase by 37%. China is now the biggest market, overtaking the UK with 17.2% of sales compared to 16.5% for the United Kingdom.
While Land Rover’s age-old reputation for being a vehicle that seldom requires an owner to make use of their breakdown cover policy, it is perhaps the attractive, sporty feel of the Evoque that has drawn so many buyers to it. The days of a Land Rover being an incredibly reliable but essentially ‘boxy looking’ vehicle are over; off-road customers now want all the technological comforts modern automotive manufacturing can deliver – as well as a vehicle that is incredibly reliable.
It seems Tata has learned to take a hands-off approach to Jaguar Land Rover, allowing it to keep its quintessentially British identity while ensuring the firm has enough funds to develop new products that can compete with 4x4s from Asia and the United States.
It is good to see what is arguably the very first off-road marque enjoy success well into the 21st Century.
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