Shares in Tata Motors rose over 1 percent in early trade Monday after its British subsidiary Jaguar-Land Rover said it sold 425,000 vehicles in 2013, up 19 percent from last year and the best ever performance in its history.
The performance met with accolades from British Prime Minister David Cameroon who termed it “great news for Britain and for jobs”.
The UK-based company, owned by Tata Motors since 2008, was spurred by growth in the Chinese market and a slew of new launches.
Also read: Tata-owned Jaguar Land Rover posts record car sales
The latest numbers are an indication of the turnaround Tata has produced at JLR -- the company was taken over close to shutdown -- and will help the Indian company counterbalance dismal sales in the local market.
In the aftermath of the financial crisis, JLR shuttered several plants in Britain and laid off employees, leading to a political backlash in its origin country. But five years since the acquisition, the company has announced it hired 600 people at a new manufacturing centre.
In 2013, Land Rover sales rose 15 percent to 348,383 units while Jaguar nearly doubled its sales to 76,668 units.
The Jaguar F-Type, the company’s new sports car, and Land Rover’s Range Rover Sport and Range Rover Evoque were favourites among buyers.
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