Jaguar Land Rover Posts Record Sales for 2013
“DETROIT—JaguarLand Rover, the U.K.-based unit of India’s Tata Motors Ltd. 500570.BY -0.26% sold a record 425,006 vehicles in 2013 as demand for its luxury vehicles increased in all major markets including in China, North America and Europe.
Sales in the past year climbed 19%, with both the luxury marques recording large gains over the previous year, with models such as the Range Rover Evoque, Jaguar F-Type and Range Rover Sport.
Jaguar posted its strongest full-year sales performance since 2005 of 76,668 vehicles, a growth of 42%. Land Rover set a 15% rise with sales of 348,338 vehicles, according to the company.
Ralf Speth, Jaguar Land Rover chief executive attributed the sales performance to “continuing strong demand for vehicles across the range.”
Jaguar Land Rover has been gaining its sales with many new products since its acquisition by Mumbai-based Tata Motors from Ford Motor Co. F +1.45% in 2008. Jaguar Land Rover is now a critical profit source for Tata Motors, which has found demand for its Tata brand of vehicles fall in its domestic market of India due to a market slowdown and intense competition from foreign companies.
In China, the single-biggest market for Jaguar Land Rover, as well as the Asia Pacific region, sales jumped 30%, North America grew 21%, and the U.K. recorded a 14% gain. Sales in Europe increased 6%, and other overseas markets, including India, grew 23%.
“The Range Rover Sport, F-TYPE, new engines and drivetrains, and a number of 14 Model Year enhancements to our existing lineup have seen Jaguar Land Rover continue to build strong sales momentum in every global region,” said Andy Goss, Jaguar Land Rover director in charge of global sales.
Jaguar set new annual sales records in 17 markets, including, Brazil, India, Russia and China. Sales of Land Rover vehicles increased in every major region, with annual sales records set in 42 markets, including the U.K., U.S., Brazil and India, according to the company.”
-Wall Street Journal/By SANTANU CHOUDHURY
