Jaguar Land Rover sales grow over 20% in FY24 on improved production, sustained global demand

Tata Motors' wholly owned subsidiary, Jaguar Land Rover (JLR), today reported a growth of more than 20% year-on-year (y-o-y) in wholesales and retails in FY24 owing to improved production and sustained global demand.

For the full year ended March 31, 2024, wholesale volumes rose 25% y-o-y at 401,303 units and retail sales increased 22% y-o-y at 431,733 units. Additionally, the wholesale volumes and retail sales were up in all regions compared to the previous year.

The wholesale volumes of 110,190 units in the fourth quarter (excluding the Chery Jaguar Land Rover China JV) were up 16% y-o-y, and up 9% in comparison to the quarter ended December 31, 2023.

By brand, the wholesale volumes increased in the quarter for Range Rover (up 22% y-o-y to 58,280 units), Defender (up 5% y-o-y to 28,702 units), Jaguar (up 39% y-o-y to 13,528 units) and Discovery (up 1% y-o-y to 9,680 units).

The retail sales for the fourth quarter were 114,038 units (including the Chery Jaguar Land Rover China JV), up 11% compared to the same quarter a year ago and up 4% compared to the quarter ended December 31, 2023.

In comparison to the previous year, the retail sales in the quarter were up 32% in the UK, 21% in North America, and 16% overseas. Compared to the prior year, retail sales in China were down 9% and down 2% in Europe for the quarter.