Published on July 2nd, 2013 | by Daniel Sherman Fernandez0
Jaguar Land Rover targeting global sales of 750,000 cars
Jaguar Land Rover is targeting global sales of 750,000 units by the end of the decade, with an eventual target of 1 million units, a top executive said today. In 2012, Jaguar Land Rover global sales totalled 357,773 vehicles, a 30 percent increase. Although Jaguar Land Rover has concentrated on high-priced, low-volume vehicles, its move into relatively lower-priced vehicles such as the Range Rover Evoque has broadened its sales prospects. Also, the introduction of Jaguar all-wheel-drive variants has increased that brand’s allure in foul-weather climates.
The automaker has teased that a revival of the X-Type although based on a bespoke Jaguar platform rather than borrowing a Ford Mondeo could be on the way. Duffield said that parent Tata Motors has invested heavily in product development, with 40 new or redesigned products or variants debuting over the next five years.
Much of Jaguar Land Rover’s global growth is happening in emerging markets. From zero sales 10 years ago, China has become Jaguar Land Rover’s largest market. Duffield believes that India’s gross domestic product will soon eclipse that of China, although how that translates into new-car sales has yet to be determined. Russia and Canada also are experiencing strong growth. To keep up with the sales pace, Jaguar Land Rover has hired 8,000 people in the past two years and now employs 25,000 people globally.