New JLR sales data reveals strength of US market and potential damage from tariffs

The potential impact of US President, Donald Trump’s, tariffs on luxury car manufacturer, Jaguar Land Rover, could be devastating, after the company revealed sales performance data today (April 7).

The production figures cover the fourth quarter and full year period to March 31, 2025.

They don’t include financials, which will be revealed in May.

The group, which has manufacturing plants in Halewood, Merseyside, and at Castle Bromwich and Solihull in the West Midlands, has paused shipments to the US this month following the punishing 25% tariffs introduced by Trump for auto makers.

Today’s data showed that, while wholesale and retail volumes were flat for the full year, the US is still a major market for the group and any volatility there could be extremely damaging.

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

JLR said it enjoyed strong wholesale and retail sales for the fourth quarter and the full year, reflecting consistent, sustained global demand, as it achieved a net cash positive position, a key Reimagine strategy target.

Wholesale volumes for the fourth quarter of 111,413 units – excluding the Chery Jaguar Land Rover China joint venture – were up 6.7% against Q3 2025 and up 1.1% year‑on‑year.

Compared with the prior year, wholesale volumes for the fourth quarter were higher in North America (14.4%), Europe (10.9%), flat in the UK (0.8%), lower in China (‑29.4%) and Overseas (‑8.1%). 

Retail sales for the fourth quarter of 108,232 units – including the Chery Jaguar Land Rover China JV – were down 5.1% compared with quarter four  2024 and up 1.8% compared with Q3 2025. 

The overall mix of the most profitable Range Rover, Range Rover Sport and Defender models was 66.3% of total wholesale volumes in Q4 2025 and 67.8% for the full year.

For the full year ended March 31, 2025, wholesale volumes of 400,898 and retail sales of 428,854 were flat at ‑0.1% and ‑0.7%, respectively, compared with the prior year.

In addition, JLR achieved its net debt zero target, ending the financial year net cash positive.

JLR said it will provide guidance on its outlook for fiscal year 2026 when it reports its full year results next month.