You are here: Home » Reuters » News
Business Standard

Jaguar Land Rover reports record 2017 sales, warns on UK outlook

Reuters  |  LONDON 

(Reuters) - Britain's biggest automaker said rose 7 percent to a record 621,109 vehicles in 2017 but warned it faces tough conditions in its home market due to weakening consumer confidence and a planned diesel hike on new cars.

Since being bought by India's group in 2008, the company has pursued a major turnaround plan to refresh and expand its model line-up and to increase volumes to around 1 million by the turn of the decade.

It said growth in China, its largest market, and in the helped to offset difficult conditions in and the rest of

"We have once again delivered year-on-year increases thanks to a world-class product range and new models such as the E-PACE and Velar, as well as China-specific models such as the XFL," group operations director said.

"But we are facing tough times in key markets such as the where consumer confidence and diesel taxes will hit us," he said.

Britain's body said last week that 2017 across the sector recorded their biggest drop since 2009, blaming plans to increase a levy on new diesel cars from April and weakening consumer confidence in the wake of Brexit.

Like the rest of the British car industry, faces uncertainty over possible tariffs or customs delays if fails to secure a favourable Brexit deal before the country leaves the in March 2019.

(Reporting by Editing by Jane Merriman)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, January 08 2018. 17:36 IST
RECOMMENDED FOR YOU