Land Rover eyes pound 1bn profit this year
Tata Motors is ready with a new business plan for its two iconic brandsóLand Rover and Jaguar. Demand for Land Rover products seems to be exceeding its supply. Enthused by the surge in demand, the company is expected to post pound 1 billion profit this year, sources in the knowledge of the matter told CNBC-TV18's Swati Khandelwal Jain. The management at JLR is holding a full business review meeting, where the company took stock of the situation.
However, Jaguar XJ sales are not meeting expectations and thus the company could be looking at a production cut of about 6,000 units. The output nevertheless, remains 15% higher than fiscal year 2010.
Jaguar and Land Rover together aim at annual sales of three lakh cars per year within the next few years. The company's previous record was set at 2.3 lakh cars a year in 2007.
Continue Reading @ http://www.moneycontrol.com/news/cnb...es_532352.html