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Jaguar Land Rover reveals huge profits growth

Jaguar Land Rover has reported half-year profits have broken the £1 billion barrier, with profit before tax of £1.083 billion marking a massive 42% year-on-year increase. Profits in the last three months alone were £668 million, said the firm. MORE new British jobs for Jaguar Land Rover Range Rover: why it is already battling Bentley The strong results are thanks to continued sales growth for the two British luxury car brands: sales over the past three months increases 21% to 102,644 cars – beating even the half-year sales rise of 16% to just over 197,000 vehicles.

GM profits surge to $3.2 billion in first quarter

General Motors on Thursday posted net income of $3.2 billion for the first quarter, its fifth straight quarterly profit since emerging from bankruptcy. Stripping out one-time charges and gains, including $1.6 billion in income from the March sale of GM's ownership in Delphi Automotive, GM earned $2 billion before interest and taxes. GM's net income for the January-through-March period a year earlier was $865 million.

'Transport poverty' rising - RAC

THE LEAST WELL-OFF families are slipping further into "transport poverty", according to an RAC Foundation survey. The poorest car-owning households spent at least 31% of their disposable incomes on buying and running a vehicle in 2012, the foundation said, up from 27% the year before. The figures, based on data obtained from the Office for National Statistics, showed that in 2012 the poorest families had a maximum weekly expenditure of £167, of which £51.40 went on a car.