Land Rover sales hit by credit crunch

Aug 7 2008 by Alistair Houghton, Liverpool Daily Post

LAND Rover is expecting sales to fall in 2008, following three record sales years, as its July registrations fell more than a third thanks to the credit crunch.

Figures released yesterday by the Society of Motor Manufacturers and Traders show registrations of Land Rovers in the UK in July were down 38% on July last year.

Overall, UK car registrations were down 13% over the same period, while other premium manufacturers such as Lexus also saw steep falls.

Some 1,764 Land Rovers were registered in the UK last month, compared to 2,863 in July, 2007.

Last year was Land Rover’s biggest sales year ever, with annual sales topping 200,000 for the first time. The company says that, despite the predicted fall, 2008 will still be its second-biggest sales year on record, as it continues to grow its sales overseas.

Jaguar Land Rover employs more than 2,000 people at its Halewood plant building Jaguar X-Types and Land Rover Freelander 2s.

Yesterday’s, SMMT figures showed Jaguar registrations in July were up 29% on July, 2007, at 1,764, thanks to the successful launch of the XF.

Land Rover’s corporate communications manager Mark Foster said market conditions would stay challenging for the rest of the year, particularly in North America.

He said: “Since May, we’ve seen a definite fall in confidence in that premium segment, and we expect the UK and US to remain difficult.”

Land Rover said the Halewood-built Freelander 2 had been less badly hit.

alistairhoughton