Jaguar Land Rover Posts Record Sales In FY17 On Demand From China
Tata Motors Ltd.-owned Jaguar Land Rover said it sold a record number of vehicles in financial year 2016-17, driven by higher sales in China and North America.
Sales grew 16 percent over the previous year, led by a 32 percent growth at its Chinese joint venture with Chery Automobile Company and a 24 jump in North America. Total sales rose to 604,009 vehicles. The company sold 16 percent more cars in the U.K. and 13 percent more in Europe, it said in a statement to exchanges.
We continue to make encouraging gains in key markets such as China and North America, as well as seeing sustained customer demand for the Jaguar F-Pace, Range Rover Evoque and Land Rover Discovery Sport.Andy Goss, Sales Operations Director, JLR Group
Sales for March rose 21 percent to 90,838 units, the company said.
Also Read: Passenger Car Segment Drives Tata Motors Sales Up 3% In January-March
Jaguar Takes The Cake
Jaguar sold record 1,72,848 vehicles on a 83 percent growth compared to 2015-16, driven by its popular F-Pace, XE and XF models. Jaguar's March sales also jumped 83 percent year on year.
Land Rover sold 4,31,161 vehicles during the year, up a mere 1 percent compared to the prior year, the statement said. Strong sales of the Discovery Sport, Evoque and Range Rover Sport were offset by the Defender and Discovery's poor performance.
Tata Motors' shares were up 0.3 percent in morning trading compared to a 0.2 percent drop in the benchmark NSE Nifty 50 Index.
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