Jaguar Land Rover Q1 sales down 37%

Jaguar Land Rover reported sales volumes for the three month period to 30 June 2022. Despite a record order book, sales continue to be constrained by the global chip shortage, compounded by the run out of the prior model Range Rover Sport, with deliveries just starting, and the impact of Covid lockdowns in China.

Retail sales for the quarter ending 30 June 2022 were 78,825 vehicles, broadly flat (183 units lower) compared with the previous quarter ending 31 March 2022 and down 37% (46k units) from the quarter a year ago ending 30 June 2021. Retail sales comprised of Jaguar vehicles at 15,207 units and Land Rover vehicles at 63,618 units, lower by 48% and 33% respectively. Compared to the prior quarter, retails were higher in UK (+10%) and Europe (+49%) but were lower in China (-5%), North America (-30%) and Overseas (-10%) reflecting the transition to new models and delivery times to these markets.

Wholesale volumes were 71,815 units in the period (excluding our China Joint Venture), down 6% compared to the previous quarter ending 31 March 2022.

The Company continues to see strong demand for its products, with global retail orders again setting new records in the quarter. As at the 30 June 2022, the total order book has grown to almost 200,000 units, up around 32,000 orders from the 31 March 2022. Demand for the New Range Rover, New Range Rover Sport and Defender are particularly strong with over 62,000, 20,000 and 46,000 orders respectively.

Jaguar Land Rover expects to report unaudited results for the 3 months ending 30 June 2022 in late July.

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