JLR enjoys 20% rise in sales levels due to improved production and global demand

Full year sales numbers for luxury car maker, Jaguar Land Rover, rose by 20% year-on-year, the group has revealed.

It said the improvement reflects improved production and sustained global demand.

The group, which has production plants at Halewood in Merseyside and Solihull and Castle Bromwich in the West Midlands, said wholesale volumes of 110,190 units in the fourth quarter – excluding the Chery Jaguar Land Rover China JV – were up 16% compared with the same quarter a year ago and up nine per cent compared with the quarter ended December 31, 2023.

By brand, compared with the prior year, wholesale volumes increased in the quarter for Range Rover (up 22% to 58,280 units), Defender (up five per cent to 28,702 units), Jaguar (up 39% to 13,528 units) and Discovery (up one per cent to 9,680 units).

Retail sales for the fourth quarter were 114,038 units – including the Chery Jaguar Land Rover China JV – up 11% compared with the same quarter a year ago and up four per cent compared with the quarter ended December 31, 2023.

Compared with the prior year, retail sales in the quarter were up 32% in the UK, 21% in North America, and 16% Overseas. Compared with the prior year, retail sales in China were down nine per cnet and down two per cent in Europe for the quarter.

For the full year ended 31 March 2024, wholesale volumes were 401,303 and retail sales were 431,733, up 25% and 22%, respectively compared with the prior year, wholesale volumes and retail sales were up in all regions compared with the prior year.

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

JLR will report its financial results for the fourth quarter and full financial year ended March 31, 2024 next month.