Tata Motors-owned Jaguar Land Rover has become the third-largest carmaker in the luxury segment by selling more cars than Audi last year. With this, it has become the first-ever non-German brand to make it to the list of top three luxury carmakers in the country. JLR India sold over 5,000 cars last year, which is more than what Audi could manage. However, Mercedes-Benz and BMW continue to take the first and second places, respectively.
Speaking on the development, PB Balaji, Group Chief financial officer, Tata Motors has said to MoneyControl, “Right now we are number three in the market and we sell 5,000-odd cars in this market, and it is a business that has been doing well.” With this, the JLR India has become the only luxury carmaker in the country to register a growth in its sales figure in 2019. The company’s sales grew by 9% from 4,596 units sold in 2018.
It is worth mentioning that the sales slowdown that affected the mainstream car market of the country also affected the luxury car market. With this, 2019 became the worst years for luxury car sales in the country, with the cumulative sales of Mercedes-Benz, BMW, Jaguar, Audi and Volvo falling by 13 per cent from 40,340 units to 35,274 units.
Adding to his comment, PB Balaji said,”This market has struggled in the last year in terms of growth rate similar to the rest of the passenger vehicle market. So that is a disappointment in terms of the market potential.” Jaguar Land Rover is now said to be hoping that the launch of new models like the Evoque and the upcoming Discovery Sport will help it continue with a strong sales momentum.
Last year, Mercedes-Benz held on to the top spot for the fifth consecutive year. However, its sales fell by a whopping 11 per cent from 15,538 units in 2018 to 13,786 units in 2019. Perched atop the second spot, BMW recorded a sale of 9,641 units, which corresponds to a fall of 13 per cent from 11,105 units sold in 2018.
Audi India registered its worst sales decline in the last 10 years. The company registered a sales decline of 29 per cent, with a sale of 4,594 units in the previous calendar year. Volvo’s sales dropped by 15 per cent on YoY basis to 2,253 units last year. However, in spite of the sales slowdown, most luxury carmakers in the country plan to introduce a slew of new models in 2020.