News: UK automaker Jaguar Land Rover plans to reach 750,000 worldwide vehicle sales by 2020 as it looks to eventually break the 1mn unit sales milestone, Automotive News reports. The carmaker has incorporated relatively lower-priced vehicles, such as the Range Rover Evoque, to its range of high-priced, low-volume models to improve sales performance. In 2012, Jaguar Land Rover's global sales will rise 30%, to 357,773 vehicles. The carmaker sees a significant amount of its sales gains coming from emerging markets, in particular China, which is its largest market.
BMI View: In 2012, BMI estimates that UK passenger car sales increased 5.3% in 2012. Consumer confidence increased moderately over the year, although we believe it remained relatively subdued. This partly drove the rise in passenger car sales, but we believe that the main causes were large pent-up demand in the market and heavy discounting by auto companies.