As per sources, Jaguar is planning new investments for the unit expansion by 50%. The British auto brand is likely to invest around 200 million pounds for the project. The company will be manufacturing new Jaguar F-Type sports car at the Castle Bromwich plant. The vehicle is a successor to the historic E-type.
The news stated that the investments planned for the upcoming development has come just three years after the unit was under the menace of being closed. Basically Jaguar was considering the option of closing down the UK arm due to the steep fall in sales and to manage the finances.
The investments were already planned for the Castle Bromwich facility and all the options are reviewed along with discussions with trade unions in order to take forward the new pay deal at JLR. Also the expansion plan proves out to be beneficial for the coalition government.
Reports claim that the company has made an investment in its Solihull site as well. Also it went on search for 1,000 new workers in Halewood, Merseyside, for enhancing production of the popular Range Rover Evoque. Jaguar is earning good benefits with its premium cars from major emerging markets such as China.
The major profits are gained from Land Rover vehicles and as per sales profits, in the first quarter of 2012 JLR recorded 24.9% increase in sales in Europe by selling 20,734 units. Comparing the output, Jaguar sales grew by 7% to mere 4,164 in contrast to Land Rover sales, which stood at 30% to 16,570 during the same period.
And now the company is keen to expand with more growth by soon unveiling a convertible version of the F-Type in 2013 followed by the launch of a coupe.
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