JLR sales rise 14% in Nov. as China offsets weak N. America
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MUMBAI (Bloomberg) -- Jaguar Land Rover global sales rose a record 14 percent to 29,893 units in November as demand in China surged, helping to offset a decline in North American deliveries.
Land Rover sales increased 17 percent to 25,862 vehicles last month while Jaguar sales declined 5 percent to 4,031 units.
"These sort of numbers should continue as the fourth quarter is usually a good quarter," said Umesh Karne, an analyst at Brics Securities in Mumbai.
Monthly sales of the British brands rose 43 percent in China, but declined 7 percent in North America.
Like many automakers, Jaguar Land Rover is turning to emerging markets such as China, and Russia to pursue growth as European markets remain weak.
The luxury unit this week signed a letter of intent with Saudi Arabia's government to study the feasibility of setting up a factory in the nation.
The automaker also received government approval from China to form a venture with Chery Automobile Co. and begin making cars in the world's biggest auto market, CEO Ralf Speth said in November.
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