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 1,910 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.
Jaguar Land Rover expects to report audited results for the fiscal year ending 31 March 2022 during May 2022. While the Company is still closing the books, it expects to report positive cashflow for the fourth quarter in line with expectations, based on preliminary cash balances.
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.
Commenting on the sales results, Lennard Hoornik, Jaguar Land Rover Chief Commercial Officer, said “The conflict in Ukraine has not materially impacted our wholesale volumes in the quarter. The impact on production has also been limited due to active management of the parts supply chain, including developing alternatives for the relatively small number of parts that are sourced from the affected countries. However, it is difficult to predict how supply and inflationary pressures will impact the coming quarters.”
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248, DP SEBI Reg. No. IN-DP-185-2016
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.