Tata Motors Ltd.'s (500570.BY) subsidiary Jaguar Land Rover said Monday that sales grew 7% year-on-year in 2017, as it warned of a tough outlook in the U.K.
Jaguar Land Rover said 2017 was a record year, with 621,109 vehicles sold, more than tripling its 2009 sales. Jaguar's sales jumped 20% to 178,601 vehicles, while Land Rover's increased by 2% to 442,508 vehicles, the U.K. subsidiary of Tata Motors added. In 2008, Tata Motors acquired Jaguar Land Rover from Ford Motor Co. (F).
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This sales growth was driven by the introduction of new models and increased manufacturing capacity around the world, Jaguar Land Rover said.
Tata's subsidiary also said it is facing tough times in the U.K., where it expects to be hit by low consumer confidence and new diesel taxes.
In 2017, the U.K. new car market declined 5.7%, according to data released last week from the Society of Motor Manufacturers and Traders, an industry body.
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(END) Dow Jones Newswires
January 08, 2018 09:12 ET (14:12 GMT)