Jaguar Land Rover manufactures export growth with sales up 35%
VEHICLE manufacturer Jaguar Land Rover saw a 10% increase in global sales during October – while in the year-to-date sales are up 35% on 2011 with encouragingly, the largest growth outside China being seen in Europe.
The figures will boost the company, which has been struggling – along with other leading manufacturers – to grow European sales due to the continuing difficulties in the Eurozone.
Figures show the Tata Motors- owned business sold 25,176 vehicles in October, an increase of 10% from a year ago. The two brands retailed 294,291 vehicles in the first 10 months of the 2012 calendar year, an increase of 35% compared to the same period a year ago.
October sales were up in all major markets apart from the United States, which was impacted by Hurricane Sandy and the Presidential Election. The firm said many buyers were also awaiting the arrival of Jaguar’s new models.
For the first 10 months of the year sales were up 15% in North America; 21% in the UK; 41% in Europe; 78% in China and 38% in the Asia Pacific region.
Phil Popham, Jaguar Land Rover’s Director of Group Sales Operations, said “We have seen a strong sales performance across both the Jaguar and Land Rover brands in the first 10 months of this year.
“During a very competitive year for premium car sales, and in an increasingly uncertain economic environment, I am delighted to see strong demand for our products and that we are still performing well across all our key markets.”
For October, Land Rover sales stood at 22,166 vehicles – up 3,235 units (17%) on the same month last year. Volumes for the Evoque, Range Rover Sport, Discovery, and Freelander were all up on 2011. Since the start of the year, Land Rover has sold 249,414 vehicles – up 41%. The all new, aluminium, Range Rover goes on sale next month.
Jaguar sold 3,010 vehicles during the month, down 929 cars (24%) on 2011. It has blamed the figures on the impact of Hurricane Sandy and the desire by US customers to wait for the arrival of new XF and XJ models.
Key new products include the XF Sportbrake and all-wheel drive and smaller engine options in both models.
For the first 10 months of 2012 Jaguar delivered 44,877 vehicles – up 8% from a year ago, reflecting the strong performance of the Jaguar XF.
The performance underlines the significance of the manufacturer to the UK’s export performance.
Its overseas sales were worth £8.2bn in 2011 and the business generates in the region of 85% of its revenue from exports. In the 12 months to March 31, 2012, JLR generated a pre-tax profit of £1.5bn with revenues of £13.5bn.
It is working on plans to extend its global production footprint in India and China, while it is also eyeing prospects in Brazil.
