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New Models Help Jaguar Land Rover Sales Soar

(c) Sky News 2016

Midlands-based manufacturer Jaguar Land Rover (JLR) have reported a 16% rise in sales volumes for the first quarter to the end of June.

The carmaker sold a quarterly record 132,700 vehicles, helped by strong demand for the Land Rover Discovery Sport and the release of new models, including the Jaguar XE and F-PACE (LSE: 4031.L - news) .

"The quarter's sales results reflect the positive customer response to the introduction of new vehicles, such as the Jaguar XE in America," said CEO Dr Ralf Speth.

"We have delivered volume growth in all of our major markets and remain solidly profitable."

The solid sales figures for the company, which is owned by India's Tata Motors (BSE: TATAMOTORS4.BO - news) , helped revenues grow to £5.5bn for the quarter, up from £5bn for the same period last year.

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Pre (Shanghai: 600048.SS - news) -tax profit fell 37% to £399m, partly due to the falling value of the pound after the Brexit vote.

JLR also introduced the Range Rover Evoque Convertible, during this quarter, and opened a new manufacturing facility in Rio de Janeiro in Brazil.

Jaguar Land Rover supports more than 190,000 jobs in the UK and is one of the county's largest exporters and generates around 80% of its revenue from exports (Other OTC: UBGXF - news) .