Published on January 20th, 2014 | by Daniel Sherman Fernandez0
Jaguar Land Rover Enjoys Record Year 2013
Jaguar Land Rover reported record global sales last year, driven by growth in the Asia Pacific and China region. Jaguar Land Rover’s total worldwide sales rose 19% last year to 425,006 vehicles. Jaguar brand sales jumped 42% to 76,668 vehicles, the most since 2005, while Land Rover increased 15% for an annual record of 348,338 vehicles, the company said in a statement recently.
Sales in Asia Pacific and the China region jumped 30 percent during 2013, North America rose 21%, the U.K. grew 14%, mainland Europe 6% and other overseas markets increased 23%, according to the statement. Jaguar Land Rover, which Mumbai-based Tata Motors bought from Ford Motor Co. in 2008 for $2.5 billion, accounted for 72% of group revenue and 88% of operating profit for the year ended March 31. In the quarter ended in September, Tata Motors posted profit that beat analyst estimates as rising Jaguar Land Rover sales outweighed a loss at the parent company’s Indian business.
“It’s more of a Jaguar Land Rover story now for Tata Motors,” Ronak Sarda, Mumbai-based research analyst at Emkay Global Financial Services, said. “This provides a good time for investors to make use of the JLR story as Tata Motors is not generating anything positive in India.”