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.
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."
As an industry the luxury car segment should gross at 41,000 to 42,000 units this year, he added.
Asked about the pre-owned car business, Suri said, the Approved business, which is the brand name of its seconds car arm, is doing pretty well clocking around 20 per cent of its new sales.
Asked whether they are planning to increase engine production from the Pune facility, he said, "we continue to look at more growth opportunities. But there is no immediate plans to massively scale up our operations here. At the same time let me add that we do a lot of things in Pune and not just assembly. One of them is engines."
On whether they will have small cars in the country, a segment thats growing at a much faster clip and which has helped its larger rivals like Mercedes and BMW to corner volumes, Suri said, "there is no immediate plan that is India-specific. We'll continue to roll in our global products to this market as we don't look at any India-specific product in the short to medium-term."
Meanwhile, Suri said the company opened its 27th integrated sales-cum-service outlet in Chennai today.
The second outlet in the Southern metro is located on the Chennai-Bengaluru highway and is one of the largest as its spread over 2,800 meters.
With this the company has 27 outlets in 25 cities and may add two more this year, Suri added.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)