Jaguar Counts on China Recovery to Bolster Return to Profit
- Tata CFO sees growth in JLR China sales “a quarter from now”
- Tata has no plans to sell Jaguar Land Rover luxury unit: CFO
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Jaguar Land Rover Automotive Plc expects a turnaround in China in the coming months to shore up efforts that have delivered the first profit in four quarters for Britain’s largest automaker.
The luxury manufacturer reported net income of 119 million pounds ($151.6 million) in the three months ended March, an improvement from the record 3.1 billion-pound loss posted at the end of 2018 that shocked investors and spilled over to JLR’s Indian parent Tata Motors Ltd.