Titan Engineers Insurance believes that the recent results from Jaguar Land Rover prove that engineering within the UK is still going strong.
Land Rover, which is now owned by the Tata Motors Group in India, has just announced a 34% rise on profits for the 2011 to 2012 financial year. Profits came out at £1.5 billion, up from £1.12 billion the year before.
The increase in profits was on the back of very strong sales growth, with the number of units sold up to 305,859, a rise of 27%. Much of the increased demand came from China and other emerging markets.
China, for example, showed growth of 76% to just over 50,000 units.
A star performer in the company’s portfolio has been the new Range Rover Evogue; a compact 4×4 which has proved to be extremely popular in many of the company’s markets.
Chief Executive Officer of Titan Engineers Insurance, Basil Tsapralis, said:
“Amongst all the gloom and bad news, it was great to see Jaguar Land Rover doing so well across the globe. This company personifies leading edge engineering and its teams of designers and testers lead the motor car industry in terms of innovation and product development.
“Where Jaguar Land Rover goes, others tend to follow and it’s good to see this company achieve so much in what are difficult times.”
Titan Engineers Insurance has clients throughout the UK. It builds long term client relationships based on finding the right products, competitively and supported by a strong customer sales regime.