JLR to launch 30 new vehicles in China over next two years
BEIJING (Reuters) - Luxury carmaker Jaguar Land Rover (JLR) plans to launch 30 new or revamped vehicles in China in the next two years, it said on Wednesday, seeking to build on a recent recovery in sales in the world's biggest auto market.
JLR, owned by India's Tata Motors (OTC: TAMO), said the models would include imported ones as well as products built by Chery Jaguar Land Rover, its local joint venture with Wuhu-based carmaker Chery Auto.
The plan follows a 17% rise in JLR's sales in China in August and a 40% jump in July, after a more than 20% decline last year.
JLR also said in a statement it aimed to further adjust its sales and dealership system to improve profitability.
Overall auto sales in China fell 4.3% in July, declining for a 13th consecutive month, according to data from China Association of Automobile Manufacturers (CAAM).
To tackle the slowdown, global and local carmakers from Ford (NYSE: F) to Geely <0175.HK> are working on new vehicles to try to boost sales.
(Reporting by Yilei Sun and Brenda Goh; Editing by Mark Potter)