Jaguar Land Rover sales will rise in 2015 despite China drop: CEO

first_imgJaguar Land Rover expects sales this year to exceed those in 2014, with Britain, Europe and the United States compensating for a sharp decline in the Chinese market, its chief executive said.The luxury carmarker sales are down 1 per cent so far this year due to a 29 per cent fall in China, the world’s largest car market, where an economic slowdown, stock market slump and currency devaluation have hit demand for cars.But CEO Ralf Speth said that sales will rise this year compared to the 462,678 models the firm sold in 2014, with other regions able to compensate for the fall.”Other markets can neutralise… (such as) the UK, Europe and the U.S,” he told journalists at the Frankfurt Motor Show .”We expect that sales are definitely bigger in 2015 than 2014…but it would be too early to give you the exact number.”China was Jaguar Land Rover’s fastest growing market last year, with sales up 28 per cent, but volumes have fallen this yea, driving global sales so far this year down 1 per cent to 301,778 cars.Speth said that Jaguar Land Rover would benefit from ramping up production in the country but that the “new normal” of slower growth in the Chinese market had come faster than anyone had predicted.”The time of the two-digit growth is over. We will see a normalised figure of, let’s say, in between 4 and 7 per cent, that depends on who is calculating it,” he said.On Monday, Jaguar launched its first crossover sports utility vehicle, the latest part of a major expansion of its model range and volumes as it enters an area that has become increasingly popular among women and families.advertisementlast_img read more

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Freddie Mac Opportunity Lies with 55 Population

first_img Share The 55 and over population is not behaving the way it used to. Whereas the 55+ population in previous generations was retiring (or close to retirement) and moving to senior living communities, the 55+ population of today (the baby boomer generation) are living longer, retiring at later age, and are on the move.Dave Lowman, EVP of Single-Family Business at Freddie Mac, called the 55+ age group “your next business opportunity.” What has grown to be the second-largest generation in history (approximately 67 million, currently) accounts for one-fourth of the population, but holds about two-thirds of the country’s housing wealth. Lowman said the decisions this age group makes “will have a significant impact on the demand for housing and mortgage credit.”“Their numbers and their housing wealth guarantee that the housing decisions of older homeowners will play an outsized role in shaping the housing opportunities available to the generations that follow them—gen X and the massive millennial generation,” said Sean Becketti, Chief Economist with Freddie Mac. “And the influence of the 55+ population will last a long time. Today’s 65-year-old can expect to live until age 84 on average. In contrast, the life expectancy of the Greatest Generation—those born between 1900 and 1924—was 47 years. With a longer life span and ample wealth, many older homeowners may buy and sell several more homes before they’re done.”Population data combined with results from a survey by GfK commissioned by Freddie Mac about the plans of 55+ homeowners revealed three things about that population: a large percentage of them plan to move, millions will be looking for financing options, and 55+ consumers are a financially confident generation.Nearly 25 million of 55+ homeowners expect to move one more time, 9 million of them plan to move in the next four years, and 6.5 million of them plan to buy a house, according to Freddie Mac. The survey also showed that 20 million 55+ homeowners plan to either buy a house or finance age-in-renovations, which creates a significant market opportunity, Lowman said.Many 55+ homeowners are still paying for their home and will be for some time—the survey found that out of 55+ homeowners who are retired, 36 percent of them have a mortgage. Out of those still working, 57 percent have a mortgage. According to Freddie Mac, a majority of those homeowners have 10 years or more left to pay. In addition, this generation has $8 trillion in housing equity and 51 million of them out of the 67 million (slightly more than three-quarters) say they are confident they will be financially comfortable in retirement.“The bottom line: This is a sizable market,” Lowman said. “Even a relatively modest increase in lending to 55+ homeowners could add trillions of dollars in new originations in a relatively short time.” in Daily Dose, Data, Headlines, News 55+ Homeowners Baby Boomers Freddie Mac 2016-08-11 Seth Welborncenter_img August 11, 2016 650 Views Freddie Mac: Opportunity Lies with 55+ Populationlast_img read more

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