Jaguar Land Rover (JLR), the wholly possessed arm of Tata Motors, was on the point of insolvency just three years back and had the Indian auto manufacturer not preserved the British ship from sliding down, the well known brand could have forayed into a dark oblivion. Tata Motors got hold of the majority equity stake of the Jaguar Land Rover for approximately £ 1.1billion in the year 2008 and the auto biz saw one of the major U-turn in the record.
After the takeover by Tata Motors, Jaguar Land Rover registered their best ever twelve-monthly sales in the international automobile market with a bulk of sales arriving from the beforehand unexpected emerging pockets of the globe comprising Asian region such as China. Lots of the rich Chinese car buffs have jammed on their personal lucks by exporting cheap consumer goods to the international markets, but they themselves love to indulge in driving premium luxury vehicles from the world famous car brands running in the nation.
Fascinatingly, around 1.4 rich persons chose the premium auto brands such as Bentley, Rolls-Royce, Jaguar, Land Rover and Ferrari amongst many others, for filling up their private garages and seldom even see the cheaper options.
As per reports, the British luxury marque, Rolls-Royce has detected the car buffs of China to be its major customers crosswise the world, in addition to the Chinese auto zone has swept over the United Kingdom and United States markets in terms of yearly sales. Grippingly, the sales of Bentley cars in China has consistently matched even those of US zones and is said to glide past in the next year.
JLR has seen an increase in demand for its luxury sport utility vehicles and saloons in the year 2011. The Chinese car buffs appears to have been keen on the premium sport utility vehicle Range Rover, which was set up around mid August 2012, and features inspiring external and internal finishes compliant with the tang of the globe’s most inhabited nation. Additionally, the Chinese driving terms are very uncomfortable for dainty vehicles and hence, the powerfully built Range Rover fascinated such a huge reception in the Chinese automobile market.
The reports said that JLR sold around 431 vehicles in China in the year 2003, whilst the firm recorded sales of 51,000 units in the fiscal 2011-12, seeing an augmentation of 76% from the financial of 2010-11. The incredible rotation came from a firm that almost filed for insolvency and attracted the administration for a bail out, just 3 years back in the year 2008-09.