NOVEMBER 14: Jaguar's I-PACE Concept at Milk Studios on November 14, 2016 in Los Angeles, California.
(Photo : Handout/Jaguar Land Rover via Getty Images)
Jaguar Land Rover recently released a report revealing that the company had hit record sales of more than 600,000 vehicles during the 2016-2017 financial year. With this recent milestone, many market analysts regarded the company as the fastest growing car brand in Europe.
Jaguar Land Rover reported sales of 604,009 vehicles, and this figure includes sales from the company's joint venture in China. This new sales figure represents an improvement of 16 percent compared to the company's record the previous year. This is also the first time the automaker surpassed the 600,000 sales mark in its history.
"We continue to make encouraging gains in key markets such as China and North America, as well as seeing sustained customer demand for the Jaguar F-Pace, Range Rover Evoque and Land Rover Discovery Sport," Jaguar Land Rover group sales operations director Andy Goss said.
— Jaguar USA (@JaguarUSA) April 12, 2017
Jaguar Land Rover's sales output in China went up by 32 percent, 24 percent in North America, 16 percent in the United Kingdom, and 13 percent in Europe, according to Wheels24. This figure is a record for the whole financial year.
Jaguar Land Rover hopes that it can keep this positive pace as it expands its market, especially with the emerging Chinese market which is steadily turning to be the world's biggest car market. Aside from China, the company is also aiming to make it big in South Africa.
As part of this effort, the company released the Range Rover Velar last month. This is the newest addition to the growing Range Rover family and sits in between the Range Rover Sport and the Evoque. The Velar is expected to hit the South African market within the last quarter of this year.