Jaguar Land Rover reports robust sales growth as semiconductor supply improves

Jaguar Land Rover has reported robust sales for the fourth quarter of the last financial year, driven by an improved supply of semiconductors.

The Tata Motors-owned automaker sold 94,649 units in the wholesale market for the January-March quarter, recording a 24 per cent annual growth and a 19 per cent jump sequentially.

The wholesale volume growth was highest in the overseas market at 62 per cent, followed by the UK (24 per cent), Europe (22 per cent) and China (17 per cent). But the growth was relatively muted in North America where it reported just a two per cent rise. The numbers excluded the Chery Jaguar Land Rover China joint venture.

Its retail sales for the quarter (including the China joint venture) were 102,889 units, up 30 per cent compared to the same quarter a year ago. The number was 21 per cent higher from the third quarter ending on December 31, 2022.

In terms of year-on-year retail sales, the luxury vehicle maker’s performance was the best in Europe, rising 47 per cent. It reported a 42 per cent jump in retail sales in the UK, a 29 per cent rise each in Chinese and overseas markets and a 12 per cent growth in North America.

The dispatches of the flagship models Range Rover and Range Rover Sport rose to 32,950 units in the fourth quarter, up from 28,000 in the preceding three-month period.

Defender wholesale volumes went up sequentially to 27,513 units from 23,816 as the company continued to operate a third shift at its Nitra plant in Slovakia.

For the full year ending on 31 March 2023, the company reported wholesale sales of 321,362 units (excluding the China joint venture), up nine per cent.

However, the retail sales were down by six per cent to 354,662 for the full year.

Tata Motors on Friday (7) reported an eight per cent rise in its wholesale vehicle sales at 3,61,361 units for the fourth quarter. This included the JLR sales numbers.

Tata Motors jumped more than five per cent on the Bombay Stock Exchange on Monday (10) as the stock reacted to the sales figures after the Good Friday break.