JLR registrations in UK down by 12.5% YoY in Dec'22

The Society of Motor Manufacturers and Traders (SMMT), UK, has published the vehicle registrations data for the month of December 2022.

New car registrations in the United Kingdom (UK) recorded its fifth consecutive month of growth in December, rising by 18.3% year-on-year (YoY) to 128,462 units from 108,596 units in December 2021.

Total Jaguar Land Rover (JLR) registrations in UK declined by 12.5% to 3,501 units in December 2022 from 4,002 units in December 2021.

While Jaguar registrations dropped by 32% to 909 units, Land Rover registrations fell by 3% to 2,592 units in December 2022 over December 2021.

The SMMT said that this second half year performance was not enough to offset the declines recorded during the first half of 2022. Despite underlying demand, pandemic-related global parts shortages saw overall registrations for the year fell by 2% YoY to 1,614,063 units, around 700,000 units below pre-Covid levels.

Looking ahead, SMMT stated that the supply chains are beginning to stabilise and although the shortage of semiconductors is expected to ease, erratic supply will likely impact manufacturing throughout 2023. The most recent market outlook, published in October 2022, anticipates around 1.8 million new car registrations in 2023, worth around 8.4 billion in additional turnover.

JLR is owned by Tata Motors, a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses, offering extensive range of integrated, smart and e-mobility solutions. It is India's market leader in commercial vehicles and amongst the top three in the passenger vehicles market.

The company reported consolidated net loss of Rs 944.61 crore in Q2 FY23 as against Rs 4,441.57 crore in Q2 FY22. Net sales jumped 30.5% to Rs 78,846.92 crore in Q2 FY23 as compared to Rs 60,435.92 crore in Q2 FY22.

The scrip rose 0.32% to end at Rs 387 on the BSE today.

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