Jaguar Land Rover (JLR) is enjoying a resurgence right now, bouyed by the sales of successful models like the Range Rover Evoque and latest Range Rover. It's aiming higher too, with one million yearly sales the eventual target--up from around a third of that today.
JLR's sales are still relatively small compared to those of other luxury automakers like BMW and Mercedes-Benz, but backed by Indian giant Tata the British marque has the potential to really surge over the coming decades.
Automotive News (subscription required) reports that JLR's global sales in 2012 totaled 357,773 vehicles, a 30 percent increase year-on-year. China is a major driving force behind the high sales, as the developing automotive market there demands bigger and better vehicles.
By the end of the decade, 750,000 is the goal--and from there, the sky's the limit.
"Reaching one million sales will place us with the world's other leading automotive luxury brands," said Lindsay Duffield, president of Jaguar Land Rover Canada at a recent summit meeting. "We have caught the attention of others, who may have seen us as a niche brand."
The last few years have seen a model offensive from JLR, with the Range Rover Evoque and new versions of the Range Rover and Range Rover Sport, as well as all-wheel drive, turbocharged and supercharged V-6 Jaguars. And of course, the stunning new F-Type.
Next in line is a revival of the X-Type, a BMW 3-Series rival which met with mixed reception in its latest incarnation. However, on Jaguar's recent turn of form, it could be a car worth waiting for.
What Jaguar won't do, said Duffield, is aim any lower than that--so don't expect to see a sub-$30,000 rival for BMW's upcoming front-drive models or the Mercedes-Benz CLA.
If Jaguar's lofty ambitions are on-target, there may not be much need for a cheaper vehicle anyway. The Land Rover arm in particular is already turning a healthy profit and Jaguar is expected to follow. In fact, all Jaguar really needs is greater production capacity: "We could sell more volume in many markets, but our plants are running 24-7," Duffield added.