Tata Motors JLR plans to sell 40,000 cars in China

Tata Motors is going places this time with its luxury car brand Jaguar Land Rover (JLR) which has stamped a new deal with the world's fastest growing auto market China to roll out 40,000 units this year. It is being reported that the agreement is around one billion euro. The initial deal included the auto company acquiring the order for 13,000 units in the year 2009 which stamped the deal for 850 million euro.

As per the JLR spokesperson stated that the new agreement cost more than one billion euro.

In the 2009 deal, the luxury car deal of 13,000 units were divided into 10,000 Land Rovers and 3,000 Jaguars. However the new agreement accounts for 36,000 Land Rovers and 4,000 Jaguars. The first deal was scheduled to complete in 2011 but the target was achieved a year before.

Li Keqiang, the Chinese Vice Premier and Nick Clegg, the UK Deputy Prime Minister stamped the MoU in London to conclude the agreement. The MoU was also signed by Ralf Speth, Chief Executive Officer and Bob Grace, President of Jaguar Land Rover in China.

Speth also said that the the agreement of selling the above specified number of cars with a value of 1 billion reflects three things, the growth of the company's plans, the importance of Chinese market to JLR and the value this deal ads to the UK economy.

Jaguar Land Rover Chief also said that Chinese auto market is growing swiftly and stands at the third position internationally. In 2010, the auto sales raised to 26,000 which is a leap of 95 per cent compared with 2009 sales graph. He also exclaimed that the 2010 success is partly due to the growing sales figure of Jaguar Land Rover performance. Jaguar Land Rover accumulative sales internationally accelerated to 232,000 by increasing to 19 per cent as compared to 2009's performance.

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