Tata's Jaguar Land Rover records 22% surge in sales, eyes electrified future

Jaguar Land Rover has reported a 22 per cent increase in retail sales for the fiscal year ending March 31, 2024, reaching 431,733 units. Wholesale vol
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JLR
Jaguar Land Rover has reported a 22 per cent increase in retail sales for the fiscal year ending March 31, 2024, reaching 431,733 units. Wholesale volumes also surged by 25 per cent to 401,303 units. (REUTERS)
JLR
Jaguar Land Rover has reported a 22 per cent increase in retail sales for the fiscal year ending March 31, 2024, reaching 431,733 units. Wholesale volumes also surged by 25 per cent to 401,303 units.

Jaguar Land Rover, the Tata Motors-owned luxury carmaker, has reported a significant increase in retail sales for the fiscal year ending March 31, 2024. The company recorded a 22 per cent year-on-year growth, with retail sales reaching 431,733 units. Additionally, wholesales rose by 25 per cent to 401,303 units, marking a successful year for the UK-based automaker.

Throughout the fiscal year, Jaguar Land Rover witnessed higher wholesale volumes and retail sales across all regions compared to the previous year. In the fourth quarter alone, wholesales stood at 110,190 units, representing a 16 per cent increase from the same period last year. Similarly, retail sales in the January-March quarter reached 114,038 units, marking an 11 per cent growth from the previous fiscal year.

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Despite the overall positive trend, retail sales in China and Europe saw a decline of 9 per cent and 2 per cent, respectively, in the fourth quarter compared to the previous year. However, the UK, North America, and the Overseas region experienced significant growth in retail sales, with increases of 32 per cent, 21 per cent, and 16 per cent, respectively.

Jaguar’s electrifying future

The British luxury carmaker had earlier announced its decisive stride towards a future dominated by electric vehicles (EVs). Under this Jaguar will cease production of its Internal Combustion Engine (ICE) models as early as June 2024 and will introduce a new lineup consisting exclusively of Battery Electric Vehicles (BEVs).

The company is set to launch three new models on an all-new platform called the Jaguar Electric Architecture (JEA), with the first model, a four-seat GT, expected to be unveiled later this year and available to buyers in 2025.

Also Read : Jaguar's electrifying leap: Luxury car maker shifts gears towards greener future

This shift towards complete electrification is a bold move by Jaguar and sets it apart from other carmakers that are gradually transitioning over the coming years.

Despite being a minority partner to its SUV-making sibling, Land Rover, Jaguar is taking the lead in embracing electrification. While sales figures have shown a decline in recent years, with Jaguar selling just under 43,000 cars globally in the last fiscal year, the company's ambitious electrification plans could pave the way for a new era of growth and innovation.

First Published Date: 09 Apr 2024, 06:14 AM IST
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