Jaguar Land Rover, the renowned luxury brand owned by Tata Motors, said Thursday it expects free cash flow of nearly $1 billion for the fourth quarter.
An encouraging forecast after a period of crisis. Jaguar Land Rover (JLR), the British luxury carmaker owned by Tata Motors, is forecasting free cash flow of more than 800 million pounds, or about $1 billion, for the fourth quarter.
The forecast is attributed to a 24 percent increase in wholesale volumes, resulting from the easing of supply constraints on microchips and other components.
India’s Tata Motors Group, which acquired the British carmaker in 2008, had originally set a free cash flow target of £1 billion ($1.2 billion) for the fiscal year.
Sales increase
Jaguar Land Rover reported a 24% increase in wholesale volumes, excluding its joint venture in China, and a 30% increase in retail sales in the fourth quarter. These were driven by strong demand for the Range Rover, Range Rover Sport and Defender models.
China, which is JLR’s largest market, saw a 17% increase in wholesale volumes compared to a 13% decline in the previous quarter.
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Featured photo : © Jaguar Land Rover
