JLR sales improve 50pc for the quarter
Sales for luxury car maker Jaguar Land Rover were up by 50 per cent for the three months to the end of September.
JLR, which has its engine manufacturing centre at the i54 to the north of Wolverhampton, sold 113,569 vehicles compared to 74,067 between April and June, but they were 11.9 per cent down on levels a year ago.
Although there was a significant improvement worldwides sales continue to be impacted by the Covid-19 pandemic.
Almost all of JLR’s retailers worldwide are now open or partially open and the company’s plants have resumed production with robust protocol and guidelines to ensure that effective social distancing, hygiene and health monitoring measures are in place and all sites are Covid-19 secure.
Car manufacturing plants at Solihull and Halewood in the UK and Nitra in Slovakia, as well as the EMC where around 1,000 are employed, have now increased to a two-shift pattern to meet increasing demand.
China sales were encouraging, up 14.6 per cent on the previous three months and 3.7 per cent year-on-year. The month of September also saw sales up 28.5 per cent year-on-year in China.
UK sales were up 231.6 per cent on the quarter, Europe up 78.8 per cent and North America 21.3 per cent.
The launch of the new Land Rover Defender continued and sales gained pace in the quarter, rising to 4,508 vehicles last month
JLR will be releasing its financial results for the three months to the end of September later this month.
The company ended September with about £3 billion of cash and short-term deposits, up £300 million, primarily reflecting positive free cash flow as expected in the quarter. Total liquidity was about £5 billion, including the company’s £1.9 billion revolving credit facility, which remains undrawn.
Felix Brautigam, JLR's chief commercial officer, said: "Covid-19 and second lockdowns continue to impact the global auto industry but we are pleased to see sales recovering across our markets."
He said the recovery had been demand-led and JLR had been able to reduce stocks to achieve ideal levels in most markets, despite the ongoing pandemic, to support a healthier and more profitable business for Jaguar Land Rover and its retailers.
Jaguar sold 27,347 cars with the all-electric I-PACE sales surging 78 per cent year-on-year in the UK in the second quarter.
