JLR record its highest ever sales last year due to the consistent growth in largest markets like China and North America
Jaguar Land Rover has recorded a stunning number of vehicle sales last year and thus making it the most successful twelve months with a record shattering 6,04,009 units which generated a pre-tax profit of £1.6 billion. Since Tata Motors started owning the famous British luxury automaker, there has been a good response from customers as more products began coming in with Europe as well as global market in mind.
The sales figures in 2016 denotes an surge of 16 percent as the profits have grown by 3 percent It was largely aided by the sales in the final quarter as the pre-tax profit jumped up by 17 percent compared to the same period the previous year. Contributing to this success majorly are the Jaguar F-Pace SUV and the Land Rover Discovery Sport.
The desire to own these models in big markets like North America and China have led to a sales growth of 32 percent and 24 percent respectively. Apart from China and NA, JLR endured sales growth in UK and Europe by 16 percent and 13 percent. The cumulative upward curve in sales has resulted in Jaguar Land Rover continuing to stay as the biggest car brand in UK as it beats Nissan, Mini and Toyota for the second consecutive year.
Eyeing further sales increase, JLR has ramped up its investments at plants in UK and Slovakia as up to £4 billion is planned this fiscal. Jaguar Land Rover has said that it is continuously investing in new models and innovations as the new Land Rover Discovery, the Range Rover Velar and all-electric Jaguar I-Pace stand as perfect example for the evolution of the brand and the future technologies.
JLR is likely to introduce its first electric car in the form of I-Pace sometime next year which will form the base for the forthcoming electrified models and the firm’s vision to make half of its lineup hybrid or all-electric by the end of this decade.