Tata Motors' subsidiary, Jaguar Land Rover (JLR) has posted record in sales for the year 2016. This is almost one car sold every minute as sales have tripled since 2009.
The rise in sales is the company's seventh consecutive year of growth in sales and the total number of sales stood at 583,313 vehicles up by 20 percent compared to 2015. The sales showed no signs of slowing down even as the year came to a close either -- sales for December were up by 12 percent compared to the same month last year, at 55,375.
The Indian-owned firm continues its expansion with the aim of producing 1 million vehicles a year by the end of 2020.
The automaker spent many years in the slump before being bought by Tata Motors in 2008. Since then the company has invested heavily in new models and expanded production with new plants in China and Brazil and a new plant in Slovakia which is under construction.
Jaguar's F-Pace, the brands first off-roader which was launched in 2016 drove the strong sales for JLR. Also, the success comes in the backdrop of sales of Land Rover Discovery Sport, and the Range Rover Sport as well as strong demand in China for the Jaguar XFL.
Europe led the company's largest sales region for the year with annual sales increasing by 26 percent compared the same period last year, while retail sales also increased across all other regions too.
JLR's sales in China was up by 31 percent and 25 percent from North America. The company generates over 80 percent of its revenue from exports.
Andy Goss, JLR's group sales operations director, said that these results mark significant steps in JLR's strategy to become a truly global business and the meet the growing international demand for its two iconic brands.
He further said that he is confident that in 2017 their British line-up will continue to expand and delight in markets across the world.
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