Jaguar eyes 30pc growth in China
Shanghai, April 21, 2013
Jaguar Land Rover aims to increase its sales by 20-30 per cent this year in China, its biggest market, and sustain the same pace over the next three to five years, said the company's country chief .
Most of the growth will likely come from southern and western regions where sales are exploding as growth in mega-city markets like Beijing and Shanghai slows, Bob Grace said on the sidelines of the Shanghai Autoshow.
In order to keep up with demand, JLR plans to boost the number of dealerships for the two brands to about 200 by the end of 2014. The company has 116 outlets in operation.
JLR, on track to start making Jaguar Land Rover vehicles in China in partnership with Chery Automobile in late 2014, aims to achieve "profitable and sustainable growth" in the country, Grace said at the autoshow.
The company, controlled by India's Tata Motors, sold about 77,000 vehicles in China in 2012.
Meanwhile, Hyundai Motor unveiled a new concept car it made only for China at the Shanghai and plans to launch the model late this year into a market that is replacing the US and Europe as a major growth driver for the South Korean firm and its affiliate Kia Motors.
The Mistra model is larger than Hyundai's Elantra compact but smaller than its Sonata mid-sized sedan.
The Mistra concept is "a strategic model for China developed to secure a clear position in the mid-sized premium market in China and reflected the needs and preference of Chinese customers from the development stage," Hyundai said.
Hyundai's China sales jumped 41 per cent to a record 260,716 in January-March, boosted by a third Chinese plant that began production late last year and by a territorial dispute between Beijing and Tokyo that battered sales of Japanese rivals. Kia's first-quarter China sales rose 26 per cent to 137,567 vehicles.
Hyundai has said it aims to increase its China sales by more than 13 per cent to 970,000 vehicles this year, though analysts see the company topping one million.-Reuters