Jaguar Land Rover Sales in China Up 48%
March sales data from Tata Motors show business is booming for its Jaguar Land Rover subsidiary.
Overall sales clocked in at 53,772 units, up 16.4% from March 2012, and longer-term trends tell a similar story. In the past 12 months, sales have headed even higher, up 22.5% to 374,669. Jaguar sales are up 8.1% in the last year, while Land Rover carried the carline with a 25.6% boost.
The automaker's stock took a 4% hit on March 21 after China announced it would introduce stricter fuel standards by 2015 that could affect Jaguar Land Rover sales. Tata's stock subsequently headed south by 9% before improving this week to an overall 3.3% loss. In the past year, shares have dropped 8.7%.
The latest data from Tata Motors break out sales by region and highlight just how important China sales are for Tata's growth opportunities.
China Jaguar sales are up 28.2% in the past 12 months, while Land Rover sales have roared ahead 51.4% in China. China accounts for 20% of Jaguar Land Rover's total sales for this period, and sales there have grown more (48.1%) than in any other region in the past year.
Tata Motors purchased Jaguar Land Rover from Ford in 2008 for $2.3 billion. In the past five years, it has grown to be Tata's most profitable arm.
The article Jaguar Land Rover Sales in China Up 48% originally appeared on Fool.com.Fool contributor Justin Loiseau has no position in any stocks or cars mentioned above.You can follow him on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo. The Motley Fool recommends Ford. The Motley Fool owns shares of Ford. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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