Jaguar, Land Rover Gets 13,000 Unit Order From China!
Jaguar and Land Rover owned by Tata Motors have got a huge shot in their arm in the form of an order of 13,000 cars from China! The break up according to sources is 10,000 Land Rovers and 3,000 Jaguars.
The order worth £600 million ($850 million, Rs 4,400 crore) is to be delivered over a period of the next three years. The order is a part of the business secured by a Chinese trade delegation that visited UK a few days ago.
The deal represents nearly 5% of the Jaguar-Land Rover global sales for the year 2008. The order value is a little more than third of what Tata paid for Jaguar and Land Rover in the landmark deal last year.
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This is a very significant order, underlines the importance of the Chinese market and the commitment of our partner. Sales of our vehicles in China have been growing rapidly over recent years and it is now our fifth-largest market in the world,†a JLR spokesperson said. “The confirmation provides us with a solid base on which to further build our presence in this key emerging market and is particularly welcomed at this challenging time for us and the automotive industry.â€
This new order comes at a time when the global automobile industry is in doldrums and should act as a huge morale booster for the two brands.
Land Rover posted a 17% percent decline in sales in the year 2008 while Jaguar sales were up 8% during the same time.
Source: Business Standard
3 People have left comments on this post
Tata be VERY VERY careful.
Chinese customer will screw you on payment and then negotiate for equity holding in company. Chinkies want to own the Jaguar and Land Rover brand at 1/3 the price you paid.
chinese are very bad negotiators. u see the deal with mg rover. they couldnt even buy the rover brand name. not even the factory. they had to shift the whole factory to china. but tata in their deal for jlr got three factories and even the rover brand name. the moral of the story is tatas are a very hard nut to crack. they will have to pay for all the 13000 cars they get.
Its the sale of cars people. Tell me how can the Chinese demand for an equity in the company by purchasing cars and that too by not paying for them? Leave the Chinese alone. Its great that JLR has sold those many cars. I think that is the long and short of it.