Jaguar Land Rover Sales Soar in China
Tata Motors Limited released its latest June Jaguar Land Rover sales volumes today, and business is booming.
For June, overall per-vehicle Jaguar sales increased a seasonally adjusted 15.5% to hit 7,595. The luxury line saw its biggest boost in sales from China (up 68.3% to 2,363 from June 2013), which is now also its largest market. This time last year, North America was Jaguar's largest market, with the U.K. and China both scrambling for second place.
Land Rover managed to beat out Jaguar in both growth and numbers, soaring ahead a seasonally adjusted 17.8% to 31,999 vehicles for June 2014. China hasn't let Jaguar have all the fun, and has also increased its Land Rover purchases to 9,191, 58.3% more than last June. By comparison, North America sales have increased 18%, while United Kingdom sales have held steady with minimal 1.7% growth.
For the two luxury lines combined, total vehicles sold during June came to 39,594 - a 17.4% increase over June 2013.
Tata Motors purchased Jaguar Land Rover from Ford in 2008 for $2.3 billion. In the past six years, it has grown to be Tata's most profitable arm.
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The article Jaguar Land Rover Sales Soar in China 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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