Jaguar Land Rover projects that they will sell 100,000 vehicles in China this year, a significant increase over the 75,000 units sold in the country in 2012.
The surge in sales in China is coming at an important time. Quarterly profits for Tata Motors (JLR’s parent company) fell by 23%, a significant figure that the company attributes to sagging sales in its home country of India. Projected to be a driver of sales, India has underperformed due to slow economic growth and the significant cost of ownership.
Commenting on the quarterly earnings report, Tata’s CFO C Ramakrishnan noted, “The external environment is relatively weak particularly for the automotive industry. Generally, margins will be under significant pressure this year for all.”
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