JLR wholesale volumes best for 11 quarters, luxury motor group reveals

Luxury car manufacturer, Jaguar Land Rover (JLR), has seen sales volumes accelerate in the third quarter period, ending December 31, 2023.

The group, which has production plants at Halewood in Merseyside and Solihull and Castle Bromwich in the West Midlands, said the figures reflect improvements in supply as more vehicles were delivered to clients.

Wholesale volumes in the period were 101,043 units (excluding the Chery Jaguar Land Rover China JV), up 27% compared with the same quarter a year ago and up four per cent compared with the quarter ended September 30, 2023.

JLR delivered the highest wholesales in 11 quarters during the period. Wholesale volumes for Range Rover Sport were 16,921, up 49%, for Range Rover were 18,843, up 12% and for Defender were 27,117, up 14% (compared with the quarter ended December 31, 2022). Wholesale volumes for the financial year to date were 291,113, up 28% compared with the prior year.

Retail sales for the third quarter were 109,140 units (including the Chery Jaguar Land Rover China JV), up 29% compared with the same quarter a year ago and up two per cent compared with the quarter ended September 30, 2023. Retail volumes were higher in all regions year-on-year: UK up 55%, Overseas up 49%, China up 28%, Europe up 27% and North America up six per cent.

Wholesale sales are the finished cars JLR sells as a business, as opposed to retails which are vehicles customers buy from retailers.

The order book continues to reflect strong demand for JLR products with 148,000 client orders at the end of the third quarter.

This has reduced from 168,000 at the end of the second quarter, reflecting increased order fulfilment to clients and resulting in improved client waiting times for its vehicles. Demand for Range Rover, Range Rover Sport and Defender remains particularly strong, representing 76% of the order book.

JLR will report full financial results for Q3 FY24 at the beginning of February.