MERSEYSIDE’S biggest carmaker, Jaguar Land Rover (JLR), is to invest £5bn this year and next in new technology and products, reports at the weekend claimed.
JLR, which employs 4,500 people at its plant in Halewood producing two models, is due to publish its latest quarterly sales figures on Thursday.
According to the report, the company will eport on Thursday say that in the three months to the end of December it achieved retail sales of 88,658 vehicles and wholesale sales of 94,828 vehicles.
JLR, which is owned by India’s Tata Motors, will have invested around £2bn in new products by the end of the financial year on March 31 and will spend a further £2.75bn in the year ahead. The company is in a closed trading period up until the quarterly announcement and was unable to comment on the report.
During 2012, JLR achieved its best-ever sales performance, selling 357,773 vehicles across the globe – a 30% increase on 2011. China overtook the UK as its biggest market for the first time.
However, in January, shares in Tata Motors fell after the company warned investors that profits for the current year will be less than expected.