Jaguar Land Rover group JLR sees sales rise across its brands thanks to ‘sustained global demand’

JLR (Jaguar Land Rover) says full year sales rose more than 20% year-on-year thanks to “sustained global demand” and improved production levels.

The luxury carmaker, which is based in the West Midlands and has a plant in Halewood, Merseyside, said that for the year to March 31, global retail sales stood at 431,733 – up 22% on 2023. Wholesale volumes were 401,303 – up 25% on the previous year.

For the fourth quarter of its financial year, wholesale volumes stood at 110,190 units, excluding the Chery Jaguar Land Rover China joint venture. That was up 16% compared to the same quarter a year ago and up 9% compared to the quarter ended December 31.

By brand, wholesale Range Rover sales were up 22% on the same quarter in 2023, to 58,280 units, Defender sales rose 5% to 28,702, Jaguar sales were up 39% to 13,528 units, and Discovery sales were up just 1% to 9,680 units.

Retail sales for the fourth quarter, including that Chery Jaguar Land Rover China JV, stood at 114,038 units, up 11% on the same quarter a year ago and up 4% on the quarter ended December 31.

Sales for the quarter were up 32% in the UK compared to 2023, and rose 21% in North America. But retail sales in China were down 9% and in Europe down 2%for the quarter.

JLR will release its full results for the financial year in May.

A year ago, Jaguar Land Rover announced its £15bn transformation plan, Reimagine. The five-year plan to transform the business into an all-electric one will see investment in its Midlands plants and its Halewood plant turned into an all-EV site, alongside investment in autonomous, AI and digital technologies. Last month JLR announced it was recruiting 250 new engineers at its Gaydon and Whitley sites in the Midlands to help design electric vehicles.

Source: https://www.business-live.co.uk/manufacturing/jaguar-land-rover-sees-sales-28961566