Jaguar Land Rover (JLR) announced a 5% increase in wholesale volumes for the first quarter ending June 30, 2024, compared to the same period last year. Wholesale volumes reached 97,755 units, excluding the Chery Jaguar Land Rover China JV, driven by strong demand across its vehicle lineup. Retail sales, including the Chery JV, rose 9% to 111,180 units in Q1 FY25 compared to a year ago.
“Wholesale volumes of 97,755 units in the first quarter of FY25 (excluding the Chery Jaguar Land Rover China JV) were up 5% compared to the same quarter a year ago, while retail sales of 111,180 units in the first quarter (including the Chery Jaguar Land Rover China JV) grew 9% compared to the same quarter a year ago,” according to a stock exchange filing.
The new body shop in Solihull, West Midlands, helped increase production capacity, leading to a 22% rise in Range Rover and a 46% rise in Range Rover Sport wholesales compared to the previous year.
“The overall mix of the most profitable Range Rover, Range Rover Sport, and Defender models increased to 68% of total wholesale volumes, as part of the company’s focus on value within its Reimagine strategy,” JLR said.
Regionally, JLR saw robust growth in retail sales, particularly in North America (up 43%), the UK (up 14%), and Europe (up 4%) compared to the previous year. However, quarter-on-quarter comparisons showed a decline in wholesale volumes by 11% and retail sales by 3%, reflecting typical cyclical fluctuations between Q4 and Q1.
The waiting list for the new Range Rover Electric continues to grow, with over 39,000 clients now signed up. The new Defender OCTA was revealed this week, with a limited number of prospective clients invited to exclusive events to experience the product.
