Jaguar Land Rover Reports Profit for Q3 of its Fiscal Year

The company reported a profit before tax of $326 million for the quarter ending in December.
The company reported a profit before tax of $326 million for the quarter ending in December.
Report shows those 60 days or more overdue reached 10-year high.
Widens year-over-year net loss to $1.72 billion.
Used-car retailer misses expectations in face of industry pressures.
Soaring material and parts costs offset benefits gained from a plunging Japanese yen and production rebound.
Carmaker has best quarter of year despite overall industry problems.
Auto financing extended to subprime and deep-subprime car buyers fell 4.5% from a year ago, as the auto finance industry continued to squash fears of a forming subprime bubble. Newly originated loans made to prime car buyers jumped 2% to encompass nearly 60% of auto loans originated during the period.
Asbury Automotive COO David Hult called the group's F&I performance in the third quarter a "small setback" compared to previous quarters, noting that he remains hopeful for the coming quarter.
Total auto loan balances in the third quarter grew 9% from a year ago to $1.1 trillion, with subprime balances leading the way, TransUnion reported on Monday.
F&I, used retail sales, and fixed ops helped dampen Sonic's third quarter declines in volume and gross profit per unit (GPU) retailed. The group also reported that its EchoPark locations increased their F&I per-copy average by 16.3% to $1,078. Overall, the group's F&I operations averaged $1,341 per copy during the period.
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