China sales of Jaguar, Land Rover boost Tata
Surging sales of Jaguar cars and Land Rover models in China are helping to raise the profit outlook at parent Tata Motors Ltd.
According to analyst forecasts, Tata Motors' profit rose 10 percent to $541 million (3.4 billion yuan) in the latest quarter after Jaguar sales almost doubled in China. The company will release its financial results next week.
The company, which also makes the world's cheapest Nano brand of cars that cost $2,900 apiece, is reaping the benefits of expansion in China, where there are now more than 1 million millionaires.
Last year, Jaguar's China sales jumped 58 percent to 3,897 units, according to LMC Automotive. Land Rover deliveries climbed 68 percent to 34,993 units.
