It’s sometimes hard to believe anything you hear in the news these days. With countries still looking for bailout money (Portugal being the latest) and others struggling to climb out of recession, it would appear that austerity measures are still the norm, rather than the exception.
On the other hand, sales for some luxury goods and services, seem to be on the rise. Take the case of Jaguar Land Rover. On April 6th, the company reported that March 2011 was its best ever sales month with global growth up by some 6 percent over last year.
Much of that increase in demand came, not surprisingly, from China and India, though the UK, North America, parts of Europe and Russia also reported significant gains in vehicle sales.
Naturally Jaguar Land Rover was pleased with the results; Group Sales Operations Director Phil Popham stating that “Despite a challenging business environment, Jaguar Land Rover is flourishing on a global scale with March sales reflecting the confidence consumers have in our brands and products. We have ambitious plans to grow our business and it is clear that there is a strong appetite in the market for exciting new products, powertrains and technologies which will further improve our penetration in key markets and segments.”
Indeed. Although the global sales increase may seem by a fairly small amount; some individual markets, such as Russia for Land Rover and Germany for Jaguar; reported sales gains of almost 50 percent for the month of March. In lean economic times, that’s a sign of strong brand equity.