British luxury brand Jaguar Land Rover owned by Indian auto giant Tata Motors will launch a number of fuel efficient sports cars in the next 2-3 years, said Tata group Chairman Ratan Tata. He said JLR was developing higher-powered and more fuel-efficient engines to attract more customers.
The Tata group Chairman was quoted as saying: "The company has undertaken its most ambitious product development programme in its history and will be launching several new sports sedans and sports cars in the next two years in order to provide dealers with a more competitive and wider product range."
"Rugged, lifestyle vehicles under the Land Rover brand are also scheduled to be launched," he added. Tata, however, did not divulge the details of the new car models or how many cars are going to be developed.
The British premium brand had earlier announced that it will launch about 40 new cars in the coming 4-5 years. On the carmaker's performance, Tata commented: "Jaguar Land Rover's operations have shown impressive growth in sales and profitability. Sales have increased by 37 per cent and 29 per cent respectively in value and volume over the previous year."
The huge loss making unit of Jaguar and Land Rover were acquired by the Indian auto giant from America's Ford in 2008. JLR never had to turn back after that with sales hitting an all time high.