Demand for Jaguar Land Rover (JLR) cars in China remains strong after the UK manufacturer posted a 58% increase in second-quarter sales in the world's largest car market.
China's interest in luxury British brands has been the subject of investor disquiet in recent months, with shares in retailers Mulberry and Burberry bearing the brunt, but Asian appetite for JLR products – from the Range Rover Evoque to the Jaguar XJ – appears undimmed. The Indian-owned car maker, which employs 24,000 people in the UK, said it sold 17,152 vehicles in the three months to September. Across the group, JLR sold 84,749 cars, up 29% on the same period last year as pre-tax profits doubled to £431m.
The performance of the likes of JLR and BMW, which saw the German car maker announce a 40% increase in quarterly Chinese sales this week, contrasts starkly with European mass-market producers. France's Peugeot Citroën is being rescued by the French state, while Ford has announced plans to shut three European plants, including two in the UK, and General Motors is expected to shut its Bochum site in Germany.
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