Driven by growth in the Asia Pacific and China region, Jaguar Land Rover, the luxury-vehicle division of India’s Tata Motors, reported record global sales for last year.
Jaguar Land Rover, which Mumbai-based Tata Motors bought from Ford Motor Co. in 2008 for $2.5 billion, accounted for 72 percent of group revenue and 88 percent 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.
Jaguar Land Rover’s total worldwide sales rose 19 % last year to 425,006 vehicles, according to a statement. 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.
It was “a great year in which we have seen some incredibly exciting new models launched to customers across the world,” Andy Goss, Jaguar Land Rover Group sales operations director, said in the statement. “The Range Rover Sport, F-Type, new engines and drivetrains, and a number of 14 Model Year enhancements to our existing lineup have seen Jaguar Land Rover continue to build strong sales momentum in every global region.”
Sales in Asia Pacific and the China region jumped 30 % during 2013, North America rose 21 %, the U.K. grew 14 5, Europe 6 % and other overseas markets increased 23 %, according to the statement.
Under Tata, Jaguar and Land Rover have targeted emerging markets such as China and Russia for growth. In 2013, Jaguar Land Rover had record sales in 38 markets, including Russia, Brazil, Korea and Canada. The sales growth in 2013 was driven by Jaguar’s F-Type convertible and Land Rover’s Range Rover and Range Rover Evoque models, it said. The F-Type began shipping in May.