MUMBAI (Bloomberg) -- Global vehicle sales at Jaguar Land Rover rose 19 percent to 116,340 in the three months ended March 31, Indian parent company Tata Motors said.
Jaguar Land Rover revenue rose 22 percent to 5.05 billion pounds ($7.6 billion) in the quarter. Profit was 378 million pounds ($571 million).
Jaguar accounted for 21,163 of the deliveries and Land Rover for 95,177 vehicles, according to company data.
"As far as Jaguar Land Rover is concerned, they are going to gain from depreciation in the pound," said Umesh Karne, an analyst at Brics Securities in Mumbai. "Raw material prices are softening and the margins at JLR will improve as models such as the new Range Rover and F-Type improve the model mix."
Models such as the Jaguar XF, Land Rover Freelander and the Evoque SUV accounted for more than 50 percent of the unit's sales in the quarter, according to company data. These models had an average selling price of about 30,000 pounds ($45,300) compared with the 42,000 pound average for its other models, Vijay Somaiya, head of treasury at Tata, said in a briefing on Jan. 24.
Jaguar Land Rover sales in the U.S. market rose to 20,688 vehicles through April, a 13 percent gain over the same period last year in a market that has improved 7 percent overall.
Tata profit falls
Tata's quarterly net income fell 37 percent to 39.5 billion rupees ($703 million), the company said
Tata sales plummeted 29 percent to 184,942 units, as customers in India held off purchases on expensive loans and slowing economic growth.