Carmaker Jaguar Land Rover reports a rise in quarterly sales as supply pressures ease and more vehicles are delivered to customers. Tony McDonough reports
Jaguar Land Rover (JLR) is reporting an increase in sales volumes for the second quarter of its fiscal year as supply pressures continue to ease.
In the three months to September 30, JLR saw a 29% rise in wholesale volumes to 96,817 units (excluding the Chery Jaguar Land Rover China JV). Wholesale volumes for the first half of the financial year were 190,070, up 29% compared to the 2022.
JLR employs more than 3,500 people at its Halewood factory in Merseyside assembling the Range Rover, Evoque and the Land Rover Discovery Sport.
By 2025 a new all-electric SUV model will be rolling off the production line at the site as part of a £15bn project to electrify the company’s product range.
In September, Princess Anne, The Princess Royal, met with workers at the factory to celebrate 60 years of manufacturing.
It added retail sales for the second quarter were 106,561 units (including the Chery Jaguar Land Rover China JV), up 21% compared to the same quarter a year ago.
Retail volumes were higher in all regions year-on-year: Overseas up 56%, North America up 32%, Europe up 16%, UK up 9% and China up 7%.
JLR said: “The order book continues to reflect strong demand for our products with 168,000 client orders at the end of the second quarter, reducing from 185,000 at the end of the first quarter, as expected, with increased order fulfilment.
“Range Rover, Range Rover Sport and Defender demand remains particularly strong, representing 77% of the order book.
JLR will report full financial results for Q2 FY24 at the beginning of November. Based on preliminary cash balances, the company expects positive free cash flow of around £300m in its second quarter.