JLR SALES GROWTH CONTINUES IN THE THIRD QUARTER

Itumeleng Garebatshabe
By Itumeleng Garebatshabe 176 Views 3 Min Read
3 Min Read
  • Wholesales in Q3 FY24 were 101,043 units, up 27% vs. Q3 FY23 and up 4% vs. Q2 FY24 (wholesales exclude China JV); YTD wholesales for FY24 were 291,113 units, up 28% year-on-year
  • Wholesale volumes for JLR’s top three best-selling models for the third quarter were up 49% for Range Rover Sport, 12% for Range Rover and 14% for Defender (compared to Q3 FY23)
  • Retail sales in Q3 FY24 were 109,140, up 29% vs. Q3 FY23 and up 2% vs. Q2 FY24; FY24 YTD retail sales were 317,695 units, up 26% year-on-year

JLR today reported increased sales volumes for the third quarter of FY24 (three-month period to 31 December 2023), reflecting 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 to the same quarter a year ago and up 4% compared to the quarter ended 30 September 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 to the quarter ended 31 December 2022). Wholesale volumes for the financial year to date were 291,113, up 28% compared to the prior year.

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Retail sales for the third quarter were 109,140 units (including the Chery Jaguar Land Rover China JV), up 29% compared to the same quarter a year ago and up 2% compared to the quarter ended 30 September 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 6%.

The order book continues to reflect strong demand for JLR products with 148k client orders at the end of the third quarter. This has reduced from 168k at the end of the second quarter, reflecting increased order fulfilment to clients and resulting in improved client waiting times for our highly desirable 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.

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Itumeleng is the Managing Editor of The Auto Magazine. He is a tech and car enthusiast