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Chairman’s Statement
products in order to regain the level of market share that it earlier enjoyed.
The fundamental economies of the Nano, which was globally acclaimed
when it was unveiled in 2008 and which was plagued with start-up
roadblocks in the state of West Bengal, will continue to establish itself in the
Indian market with a wider sales and service network. The potential market
for such an affordable car is enormous throughout the developing world.
Jaguar Land Rover’s
operations have shown impressive growth in sales
and profitability. Sales have increased by 37% and 29% respectively in value
and volume over the previous year. The Company has undertaken its most
ambitious product development program in its history, and will be
launching several new sports sedans and sports cars in the next two years
in order to provide dealers with a more competitive and wider product
range. The Company will also be offering cars with new higher-powered,
more fuel-efficient engines to meet the customer preferences. Face-lifted
and new models of the Range Rover as well as a competitively-priced new
line of rugged, lifestyle vehicles under the Land Rover brand are also
scheduled to be launched. New manufacturing facilities are being
considered in China to better meet market demand for Jaguar and Range
Rover in the region.
The automobile sector impacts the lives of millions worldwide. It creates a
huge number of direct and indirect jobs – and drives the quest for new
technologies, lighter, stronger materials as well as new processes and
businessmodels. It has resulted in someof themost important infrastructure
investments in many countries – highway systems which connect cities,
connect production centers to markets and rural areas, and connect
communities separated by water and mountains through bridges and
tunnels. While commercial vehicles constitute one of the main forms of
competitive goods transport, based on a business proposition, the
passenger car is probably one of the most emotive products in the world
today. Despite the much greater interest in performance, advanced
10
Sixty - Seventh
Annual Repor t 11-12