Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

JLR to launch 30 new vehicles in China over next two years

Published 09/04/2019, 10:52 AM
Updated 09/04/2019, 10:57 AM
© Reuters.  JLR to launch 30 new vehicles in China over next two years

BEIJING (Reuters) - Luxury carmaker Jaguar Land Rover (JLR) plans to launch 30 new or revamped vehicles in China in the next two years, it said on Wednesday, seeking to build on a recent recovery in sales in the world's biggest auto market.

JLR, owned by India's Tata Motors (NS:TAMO), said the models would include imported ones as well as products built by Chery Jaguar Land Rover, its local joint venture with Wuhu-based carmaker Chery Auto.

The plan follows a 17% rise in JLR's sales in China in August and a 40% jump in July, after a more than 20% decline last year.

JLR also said in a statement it aimed to further adjust its sales and dealership system to improve profitability.

Overall auto sales in China fell 4.3% in July, declining for a 13th consecutive month, according to data from China Association of Automobile Manufacturers (CAAM).

To tackle the slowdown, global and local carmakers from Ford (N:F) to Geely (HK:0175) are working on new vehicles to try to boost sales.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.