8:34 am, April 11, 2023
Jaguar Land Rover enjoyed a major sales spike in Q4 as crippling supply chain issues continued to ease, new data has shown.
Figures published by the British outfit have revealed that retail sales rose by 30 per cent year-on-year to reach 102,889 units in the three-month period to March 31.
That figure also represented a 21 per cent rise on Q3’s results as JLR looked to ramp up production following years of disruption.
The results were significantly boosted by the huge popularity of the Range Rover and Land Rover Defender, both of which sold in huge numbers.
The Defender was JLR’s most popular model in Q4, selling 23,622 units – a rise of 51.9 per cent, while the Range Rover rose by a whopping 201.6 per cent to 18,745 units.
Other big sellers included the Range Rover Evoque (12,964 units); the Range Rover Sport (11,269 units) and the Land Rover Discovery Sport (9,336 units).
Compared to the same point last year, retail volumes were higher in all major markets led by Europe, which saw an increase of 47 per cent.
That was followed by the UK (+42 per cent), China (+29 per cent), Overseas (+29 per cent) and North America (+12 per cent).
The firm’s order book also remained strong with around 200,000 client orders at quarter end. Range Rover, Range Rover Sport and Defender demand remains particularly strong, representing 76 per cent of the order book.
Elsewhere, wholesale volumes for the fourth quarter were up 24 per cent year-on-year to 94,649 units.
While JLR does not expect to publish its financial results until May, free cash flow for the year is projected to be at around £500m for the full year.
