Jaguar Land Rover: Strong Sales Growth In North America Offset By Ongoing Challenges In China
Deepthi | Myequity news | Date : 07-12-2018 12:15:00 IST
Jaguar Land Rover today reported total retail sales of 48,160 vehicles in November 2018, down 8.0% year-on-year reflecting continuing challenging market conditions in China while other major markets were up.
Retail sales were up significantly in North America (18.1%) due to strong sales of Range Rover models in Jaguar Land Rover’s best ever November sales results in the market. Sales were also 5.6% higher in Europe and up 3.2% in the UK.
Sales in China were 50.7% lower than a year ago as market conditions remain difficult with continuing consumer uncertainty following tariff changes and trade concerns. Jaguar Land Rover continues to work closely with retailers in China to respond to the present market conditions.
Jaguar retail sales were 14,909 vehicles in November, up 8.9% year on year, driven by the introduction of the E-PACE and I-PACE, partially offset by lower sales of Jaguar sedans and the F-PACE.
Land Rover retailed 33,251 vehicles in November, down 14.0% year-on-year as strong sales of the refreshed Range Rover and Range Rover Sport were more than offset by lower sales of Discovery Sport, Discovery and Evoque, primarily in China. The latest Land Rover model, the all new Range Rover Evoque, was announced last month and will go on sale in 2019 with hybrid powertrain options.
Felix Brautigam, Jaguar Land Rover Chief Commercial Officer, said: “We are encouraged to see our best ever November sales performance in North America, propelled by strong SUV sales. This performance was combined with growth in Europe and the UK where we have outperformed the market; a significant accomplishment in today’s challenging conditions. These positive regional results reflect our strong brands and attractive product line up.
“In China, we continue to see significant market challenges but we remain focused on taking all the operational actions necessary to balance production with demand.
“Sales of Land Rover models were down this month but will receive a boost with the launch of the sophisticated all-new Range Rover Evoque in early 2019, a true and refined Range Rover with an amazingly compact footprint. From launch our customers can choose from state-of- the-art petrol and diesel engines with mild hybrid option, already fulfilling the strict future WLTP 6d temp emission regulations. A three cylinder plug in hybrid model will follow, demonstrating our commitment to driving a cleaner and sustainable future, without losing any of Land Rover’s legendary capability.
“Jaguar sales were up in all key markets except China, with the sporty compact SUV E- PACE and newly introduced all-electric I-PACE driving demand.”
About Jaguar Land Rover:
Jaguar Land Rover is the UK’s largest automotive manufacturer, built around two iconic British car brands: Land Rover, the world’s leading manufacturer of premium all-wheel-drive vehicles; and Jaguar, one of the world’s premier luxury sports saloon and sports car marques.