China Sales Soar for Jaguar Land Rover
Tata Motors Limited released its latest February Jaguar Land Rover sales volumes today, and business is booming.
For February, overall per-vehicle Jaguar sales increased a seasonally adjusted 15.3% to hit 5,300. The luxury line saw its biggest boost in sales from China (+40.8%), while United Kingdom sales took a 13.2% dip. So far this fiscal year (beginning in April 2013), China sales are up a whopping 136%, followed by 54% in North America.
Land Rover sales grew slightly slower, up a seasonally adjusted 13.1% to 25,190 for February. While China sales increased even faster than Jaguar's at 44.4%, United Kingdom sales took a sizable 27.4% tumble. And for the fiscal year to date, Land Rover's growth leader, Asia Pacific, has increased just 27% .
Tata Motors purchased Jaguar Land Rover from Ford in 2008 for $2.3 billion. In the past six years, it has grown to be the India-based automaker's most profitable arm. For the two luxury lines combined, February unit sales are up a seasonally adjusted 13.5%, while fiscal year-to-date sales have increased 18.2%.
The article China Sales Soar for Jaguar Land Rover originally appeared on Fool.com.Justin Loiseau has no position in any stocks mentioned. 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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