Jaguar Land Rover is going through some tough times with sales in China dropping and the whole Brexit situation but things are much better for them in USA.
The British car maker saw its global deliveries fall by 4.6 percent in 2018 but at the same time, sales in the U.S. rose by 7.3 percent hitting a record of almost 123,000 vehicles.
Joe Eberhardt, JLR’s Head of North America business talked to Bloomberg about the company’s strategy in the US market. “If we can keep our volumes around where we were last year, I’d be more than happy,” he said. “We focus on the things we can control.”
USA is Jaguar Land Rover’s single biggest market and the British car maker hopes that demand for SUVs, like its own Range Rover Evoque and Jaguar E-Pace will continue growing despite the prediction of lower overall sales.
JLR is also counting on the all-new Land Rover Defender, which is expected to arrive in the market in 2020. “There’s always room for further growth and the growth will have to come from new product,” Eberhardt said.
Retaining the sales momentum in the U.S market is deemed critical for Jaguar Land Rover as the company tries to cope with falling sales elsewhere. They have already announced plans to cut 4,500 jobs worldwide as part of a big cost-reduction strategy.
Previous reports suggest that Tata Motors, the owner of JLR, is exploring its options for the troubled car maker, including holding a potential stake sale. The Indian giant was quick to deny these reports. Tata will need to raise $1 billion in the next 14 months in order to replace maturing bonds.