JLR Sales increased 19% in March Quarter

Jaguar Land Rover (JLR), a luxury sedan and sports utility vehicle (SUV) manufacturer that is wholly owned by Tata Motors, saw an increase in sales for the March quarter and for the entire fiscal year FY2023.

In a filing with the stock exchange, Tata Motors attributed the rise in sales to the ongoing improvement in chip supply and other constraints.

Including the Chery Jaguar Land Rover China joint venture, JLR’s wholesale volumes for the fourth quarter were 94,649 units, an increase of 24% year-over-year and 19% quarter-over-quarter.

Wholesale volumes in JLR were up in all markets compared to FY2022, with the UK (64 percent), Europe (22 percent), China (17 percent), and North America (2 percent) leading the way.

On the other hand, JLR’s retail sales for the March quarter were 102,889 units, which included sales from the Chery Jaguar Land Rover China joint venture. These sales were up 30% from the same quarter a year ago and 21% from the previous quarter that ended December 31, 2022.

Contrasted with the earlier year, retail volumes were higher in all markets drove by Europe (+47%), UK (+42%), China (+29%), Abroad (+29%) and North America (+12%) during the monetary FY2023.

Wholesale sales increased by 321,362 percent for the entire fiscal year 2023, excluding the China joint venture, while retail sales decreased by 354,662 percent.

With 32,950 wholesale units sold in the quarter, up from 28,000 in the December quarter, production volumes of JLR’s signature SUVs, the Range Rover and the Range Rover Sport, continued to rise.