Jaguar LandRover Demand

Despite falling the sales in the domestic market, Chinese demand for British luxury brands Jaguar and LandRover helped Indian automaker Tata Motors returns to the black on Thursday. The firm reported a net profit of 17.39 billion rupees ($244.6 million) for the three months to December. They had also reported a loss for the December quarter a year earlier.  Jaguar LandRover chief executive Ralf Speth said that the conditions in the automotive industry remain challenging but they are encouraged by recovery of our China business and the success of the new Range Rover. 

Sales of Jaguar Land Rover rose 24.3 percent in China during the  quarter. 

But domestic sales fell by almost seven percent during the same period as inventory rised up and purchases decreased. 

Tata Motors is implementing a turnaround strategy for Jaguar Land Rover, which it acquired from FORD in 2008, seen as an important barometer of overall economic health. Jaguar Land Rover, with agrowing demand for environmentally friendly vehicles in key markets, this week launched a luxury electric sports car.

MERCEDES BENZ in India said earlier this month that it expected the country's automobile sector to bounce back in the second half of 2020. The auto sector slowdown, which comes led to a sharp downturn in the Indian economy, has led to the loss of thousands of jobs.