INDIA: China Jaguar Land Rover's third largest market
China was Jaguar Land Rover's (JLR) third-biggest market after the UK and North America in the second quarter with 22% of sales.
Though JLR contributed 75% of revenue and 91% of profits to parent Tata Motors' quarterly results, its India unit saw profits halve. JLR sales grew 34% to 83,452 units, The Hindu Business Line said.
“We see great potential for further growth. We sell our entire vehicle line-up in China and will grow by expanding sales and introducing new derivatives and models, some designed specifically for China,”' a spokesman told Business Line.
Jaguar's Castle Bromwich plant makes a three-litre XJ specially for China. Last year, 42,063 JLR vehicles were sold there. In June, 6,407 JLR cars were sold, up 93% year on year.
Tata bought Jaguar and Land Rover from Ford in 2008 for $2.3bn.
Since being taken over, the UK unit has launched the Evoque and announced ambitious plans to build its own engine plant, replacing engines supplied by Ford, and to extend its Halewood and 'Castle Brom' plants, adding thousands of jobs in the UK. It has also commenced Land Rover Freelander CKD assembly in India and is known to be eyeing local assembly in China with a local partner.
It recently formed a joint venture with Chery Automotive for CNY17.5bn and thisis expected to roll out its first vehicle in 2014.
Over 200 people currently work at JLR's China National Sales Company.