During the year ended July 31, 1962, Daimler buses captured over 60 per cent of ali the advertised municipal bus contracts and sales figures were continually improving, it was revealed by the chairman and managing director of Jaguar Cars, Sir William Lyons, in his annual report.
Efforts had been made to strengthen the dealer and distributor network at home and abroad and new distributors were appointed in several countries. said Sir William.
“Things are brighter also for the Guy Motors (Europe) subsidiary,” he went on.
Following a complete reorganintion, the company is able to offer high-quality vehicles at competitive prices and is re-establishing itself in the commercial vehicle and bus markets. There is still much to be done, however, before there is any real contribution from the company to the group’s earnings.”
Jaguar has had the benefit of a nonrecurring profit during the year resulting from the terms of the acquisition of the company.