Jaguar Land Rover retail sales in down 14% for FY22

8 Apr 2022 , 05:41 PM

Jaguar Land Rover retail sales for the three-month period to 31 March 2022 continued to be constrained by the global semiconductor shortage. However, the Company saw a gradual improvement in chip supply leading to improved production and wholesale volumes compared to the previous quarter. This is expected to continue through the next fiscal year. Underlying demand for Jaguar Land Rover products remains strong with record orders in the quarter.

Wholesale volumes were 76,526 units and production volumes were 82,722 units in the period (both excluding China Joint Venture), up 11 % and 15% respectively compared to the previous quarter ending 31 December 2021. Compared to the previous quarter, wholesale volumes were up by 23% for Defender, 14% for Range Rover Sport and 29% for Discovery. The quarter was also noteworthy for the first deliveries of the New Range Rover, with 1,91 O wholesales with the prior model now running out.

Retail sales for the quarter ending 31 March 2022 were 79,008 vehicles, down (1 )% (1,118 units) from the previous quarter ending 31 December 2022 and (36)% (44,475 units) from the quarter a year ago ending 31 March 2021. Retails were higher compared to the previous quarter in UK (+34%), North America (+5%) and Overseas(+ 10%) but were lower in China (-18%) and Europe (-17%).

Wholesales (excluding the China Joint Venture) for the fiscal year ending 31 March 2022 were 294,182, down (15)% compared to the fiscal year ending 31 March 2021. Retail sales for the fiscal year ending 31 March 2022 were 376,381, down (14)% compared to the fiscal year ending 31 March 2021.

Despite the impact of the semiconductor shortage on production and sales, the Company continues to see strong demand for its products with global retail orders again setting new records in the quarter. As at the 31 March 2022, the total order book has grown to over 168,000 units, up around 14,000 orders from the 31 December 2021 . Demand for the New Range Rover and New Defender are particularly strong with over 45,500 and 40,000 orders respectively.

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