JLR Produces Millionth Vehicle At Halewood Plant In UK
News: British luxury carmaker Jaguar Land Rover (JLR) has produced its one millionth vehicle - a Range Rover Evoque -at its Halewood facility in the UK. The vehicle will be donated to Cancer Research UK ahead of a special car auction event in 2014. The 1mn mark was achieved ahead of original forecasts amid an increase in demand of the Evoque and a rise in sales of the Freelance. Halewood has made 255,186 models of the car in the year-to-date period.
BMI View: In the first eight months of the year, JLR sold some 269,653 units globally, an increase of around 16% y-o-y. This is in line with BMI's long-held view of the growing premiumisation trend in the global passenger car market, and we expect the company to continue to post strong sales growth over the year. Vehicles manufactured in the UK represent a large proportion of JLR's global sales, in line with BMI's bullish view on UK autos manufacturing.