According to Jaguar Land Rover’s top executive in China, the carmaker is expecting the sales growth for 2014 to be roughly halved when compared to the high base reported last year.
The British luxury automaker, a wholly owned subsidiary of India’s Tata conglomerate, predicts the delivery increase in the world’s largest auto market could be even further decelerated in 2015 as China’s auto market would settle to a lower expansion. The forecast for JLR’s local sales would see a climb of 20% in deliveries, compared to roughly 40% during the same period a year ago. The Asian country is the largest and fastest-growing market for the premium automaker and this week the British company finally opened its first local production facility. Bob Grace, Jaguar Land Rover’s head of Greater China, said “the market is a little bit slower in the second half compared with the first half,” as the pace of the overall industry slowed in September to the lowest level in 19 months.
The market has seen some tensions lately, as numerous government investigations into anti-competitive and monopoly practices have targeted the carmakers (especially foreign), prompting them – including Jaguar Land Rover – to decrease prices for spare parts and even certain models.