Dear Shareholders,
This year JLR celebrates 10 years of Tata ownership. Since 2008, we have grown into a global player in the premium market. We are proud to be Britain’s largest automotive manufacturer, respected for our outstanding award-winning products.
JLR delivered a solid business and financial performance in FY18. We increased sales volumes, grew revenue to £25.8 Billion and sustained profitability.
Our global retail sales rose 1.7% to 614,309. Growing demand in China and the US offset weaker conditions in the UK and mainland Europe.
Our Products
Today, JLR offers the most luxurious and most sustainable
product portfolio in our history.
Jaguar expanded its portfolio to include the E-PACE, a new compact SUV. We introduced the Chinese market XEL, the beautiful XF Sportbrake and the F-Pace SVR, Jaguar’s ultimate performance SUV.
The launch of the Jaguar I-PACE, the world’s first fully electric premium SUV, is a technological game-changer.
Land Rover attracted new customers with the new Discovery and revealed the 18 Model Year Range Rover and Range Rover Sport, both with plug-in hybrid versions. The limited edition Range Rover SV Coupe takes our flagship brand to new heights.
Among the 200 awards won this year, the newly introduced Velar, the fourth Range Rover model, was named ‘World Car Design of the Year’.
Our Technologies
It is through innovation that JLR will become a true technology-driven company.
Our future modular architecture will bring flexibility and greater economies of scale, offering our customers a full choice of electrified vehicle options, as well as clean petrol and diesel. From 2020, all new Jaguar and Land Rover vehicles will be electrified.
We are working tirelessly to improve the efficiencies of our engine technologies, while simultaneously moving to ‘ACE’ (Autonomous, Connected, Electrified technologies).
Our People
At JLR, our primary asset is our people. We are committed to attracting and retaining the best people and our 43,000-strong workforce has continued to grow, with recruitment starting for our new plant in Nitra, Slovakia.
Our External Environment
As a company operating globally, we favour a policy and trading environment that protects tariff-free, fair and frictionless trade.
While we respect the democratic decision of the UK people, JLR is seeking clarification and certainty on the terms of Britain’s withdrawal from the European Union. It is of paramount importance that as many benefits as possible are preserved.
Demand has been undermined in Europe by consumer uncertainty over diesel, particularly in the UK where diesel cars face unfair tax treatment.
Our Future
A world of sustainable mobility will offer significant economic, social and health benefits: zero emissions vehicles, zero congestion and zero accidents.
We are committed to recycling and zero emissions at every stage.All of our cars offer greater connectivity than ever before, and we are already testing fully autonomous vehicles on UK roads.
We will continue to invest in new products, technology and capacity to drive long-term profitable growth.
As we embark on the next phase of our strategy, let me reaffirm our pledge: that we will continue to produce and deliver vehicles that create experiences customers will love, for life.
Best Regards,
Professor Dr. Ralf D. Speth
Mumbai, May 23, 2018