Jaguar Land Rover registers nearly half a million sales in 2015; plans are put in place to enter new overseas markets
Jaguar is destined to enter into new markets after having a successful 2015 with improved overall sales. The British luxury vehicle manufacturer is in the process of expanding its global presence by venturing into the countries it yet has to step foot in. In 2015, Land Rover and Jaguar sales raised by 6 and 3 percent respectively. The Tata Motors-owned Jaguar Land Rover company has recorded an overall global sales close to half a million mark this past year. This has come at a time when the brand’s significant Chinese market failed to deliver the expected outcome due to the economic slowdown prevailed.
Nonetheless, the auto maker is well on course to end up the 2016 year tipping the scale at a cumulative figure of over 500,000 units with the recovery of Chinese market. The rise in sales was at 5 percent as Jaguar Land Rover managed to sell 487,065 vehicles in the last twelve months. JLR has been very influencing in the European luxury car space which resulted in a very strong growth with the increased sales in the US giving a much needed helping hand. Both markets have been pivotal in alleviating the huge slump witnessed both in Chinese as well as other foreign markets. The British and European markets registered a sales of over 100,000 units each amidst 3 percent increase in North America.
The sales in China has dipped by 24 percent whereas in other overseas markets, a 7 percent fall was registered. Jaguar was forced to pay £245 million in exceptional charge after a chemical explosion destroyed 5,800 vehicles last August in China. The surge in Jaguar’s sales numbers can be accustomed to the newly launched mid-size executive sedan, the XE. The entry level sporty luxury vehicle will be launched on the eve of 2016 Auto Expo, 3rd February, in India and with loads of potential it will rival against the segment leader Mercedes-Benz C Class, Audi A4 and BMW 3 Series. Bookings for the luxury sedan have already began at a price of Rs. 1 lakh in the JLR dealerships and with it the manufacturer will be looking to entice customers from a new segment for the company. As ever, Range Rover Evoque was the best-selling vehicle ahead of the Land Rover Discover Sport.
JLR has invested hefty sum in R&D and manufacturing facilities and recently announced a deal with Austrian contract manufacturer Magna Steyr for setting up a new plant in Slovakia in two years whilst local production for Brazil will be up and running soon. With the launch of the F-PACE, more new markets reach and introduction of new 2.0 and 3.0-litre petrol engines across its range in India, JLR is looking to close out 2016 on a high.