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JLR sure to grow volume and market share in 2018: Suri
Jaguar Land Rover India, which has clocked a 66 per cent volume growth in the January-June period, is hopeful of maintaining the momentum through the rest of the year and expects to “close 2018 with a robust double-digit growth that will be much above the industry average.”
Buoyed by a strong product portfolio, in the first half of 2018, the Tata Motors subsidiary sold 2,579 units, up 66 per cent over the same six-month period in 2017. In the entire 2017, its volume stood at 3,954 units, up 49 per cent over 2016.
This had helped the British brand cross its own targets both in volume as well as in marketshare terms, which crossed 11 per cent in 2017 against a target of 10 per cent.
“The brand JLR is becoming popular by the day. We are sure to more or less continue (the 66 per cent volume growth) momentum of the first half into the rest of the year. We are sure of clocking robust double-digit growth, which will be much above the industry growth rate,” Rohit Suri, president and Managing Director of JLR India, told PTI.
He attributed the good H1 show to “the good run that the Discovery Sport and the Evoque from the Land Rover stable and the XE and XF from the Jaguar platform.”
On the other hand, the market leader Mercedes-Benz grossed 8,061 units, up 12.4 per cent over the six-months period in 2017, and the No 2 player BMW sold 5,171 units in the same period, clipping at around 14 per cent. And the Swedish player Volvo reported over 30 per cent spike in volumes at 1,242 units.
The third largest player Audi has not yet disclosed its half-yearly sales figures
In the beginning of the year, JLR said it would have a big product offensive this year with 10 launches, including variants.
When asked about market share target for 2018, he said, “we will definitely grow the market share. We closed 2017 with 11 per cent of the market pie, but refused to proffer a number for the same in 2018.”
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