Jaguar Land Rover to launch 40 new models by 2018
Jaguar Land Rover, the British car manufacturing firm under the leadership of India’s Tata Motors has shown a dramatic turnaround in sales and profit. JLR Chief Ralf Speth has confirmed plans to introduce 40 new models by 2018 and to double car production to 750,000 units by 2015.
Most of these new models will be introduced under the small luxury car segment, at the same time, demand for their existing models is also on rise as they reported a growth of 21% in sales for July 2013. Jaguar sold 6,157 cars and Land Rover sold 25,454 last month, registering a 65% and 14% increase respectively, compared to July 2012 sales. The surge in demand was experienced the most in China, which is also their biggest consumer.
In China, Reuters reveals that JLR has recently announced a recall which has affected a total of 11,852 cars, this is due to possible oil leakage problems. Under this, JLR China will recall 3,196 units of Jaguar XF and XJ, manufactured between July 2012 – May 2013 and March 2012 and May 2013. Land Rover will recall 8,656 units of Range Rover Aurora and Freelander 2.
Amongst the largest car exporter in the UK, JLR is also working on making investments at their Halewood factory in Merseyside, UK. This is likely to see creation of over 1,000 jobs, reports ET. Added investment will be pumped into the plant due to increased demand for Range Rover Evoque along with newer models which are being planned. JLR is also planning to expand operations at the Solihull plant in the West Midlands.
Speaking about new car launches, stringent emission standards to be laid down by EU have resulted in Jaguar planning a line of compact front wheel drive models that will allow the company to cater to these needs, reports Autocar. By the year 2020, EU plans on seeing average CO2 output drop to 95 g/km and while automakers are keen on bending over backwards to see that they meet these targets, production plans will need to be adjusted which may not prove to be altogether profitable. Investments will be extensive while profit margins from small cars will be minimal.