Jaguar Land Rover posted its largest annual profit in nearly a decade after seeing"sustained global demand" for its luxury vehicles.
Pre-tax profits reached £2.2 billion for the year, an improvement on every year since 2015.
Revenues also hit an all-time high of £29 billion, driven by a record fourth quarter, which saw sales soar to £7.9 billion.
JLR's total order book reached 133,000 vehicles by the end of its financial year, 76% of which were for Range Rovers, Range Rover Sports and Defender models.
Around 28,700 drivers have joined the waiting list for Range Rover's new electric vehicle.
Adrian Mardell, chief executive, said: "We have delivered a record financial performance for the company, generating free cashflow of £2.3bn, enabling us to reduce net debt to £700m.
"The foundation of this performance was the sustained global demand for our modern luxury vehicles, led by our Range Rover and Defender brands, underpinned by a consistent focus on operational improvement."