JLR to create 800 new UK jobs
Sales at luxury carmaker up 30%y/y
By CFOWorld.co.uk staff | CFO UK | Published 11:34, 14 January 13
Jaguar Land Rover (JLR) has announced the creation of 800 jobs at its plant in Solihull, West Midlands on the back of record sales.
In a statement on Monday, the luxury carmaker, owned by India’s Tata Motors, announced a record sales rise of 30 percent on an annualised basis for 2012.
Its sales in China rose 70 percent to 71,940, overtaking the UK to become its biggest market. Sales in the UK rose 19 percent to 68,333 and in the US by 11 percent to 55,675.
The company said it was currently active in 177 global markets and would 'consider' assembling cars in Saudi Arabia, following a production move to China announced last year.
Production at the Chinese factory, on the outskirts of Shanghai, is expected to commence in 2015 and the assembled cars would be for the Chinese market only.
JLR also plans to build a new engine factory in Wolverhampton. In line with market expectations, the new Range Rover Evoque model topped sales with over 100,000 units moved in its first year.
Speaking on BBC Radio 4’s Today programme, John Edwards, global brand director at JLR, said, "We plan to increase our dealership network in China by a further 30 percent in the coming year despite the intense competition in that market."
"I think what the Chinese consumers are after are true British brands with real integrity and that's where we have a real opportunity," he added.
The Solihull plant currently employs 6,000 people producing the Range Rover Discovery and Defender models.
Share:Facebook Twitter Google Plus Stumble Upon Reddit Share This Email this article
CFOs are keen for the chancellor to avoid any uncertaintymore ..
However, row over pay and investments overshadow sterling performancemore ..
Total project valuation for offshore wind and biomass projects stated at £12bnmore ..
The group posted a 1% rise in operating profits thanks mostly to Primark's successmore ..
CFOs used to low interest rates ignore working capital optimisation at their perilmore ..
Concur shows CFOs how to make life easier when the auditors come knockingmore ..