A new sales record of over 314k cars and profits of 1.5 billion GBP illustrate the success of British car maker Jaguar Land Rover and it’s innovative new products including the Range Rover Evoque which is selling like “hot cakes” at the moment particularly in China. In fact Jaguar Land Rover is opening a new dealership in China every week. China sales now represent almost 20% of the companies sales.
There is, however, another less publicised side to this story.
Since 2007 the British Pound has devalued against the Chinese Yuan (or RMB) by a whopping 56% as a direct result of the U.K Governments policy of Quantitative Easing. In March 2009 75 billion pounds was created electronically followed by another 200 billion pounds later that year. Further episodes of Q.E pumped a total of 325 billion pounds into the U.K economy, devaluing the pound & increasing exports.
It also goes a long way to explaining why foreign ownership of London property has increased 20% since 2009 & conversely why imported foodstuffs & other goods now seem outrageously expensive.
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