JLR retail sales in Q2 FY25 down 3% vs Q2 FY24
London, October 08, 2024, (Oilandgaspress) ––– Retail sales of 103,108 units in the second quarter (including the Chery Jaguar Land Rover China JV) were down 3% compared to the same quarter a year ago. Retail sales for the first six months of the financial year were 214,288 units, up 3% year‑on‑year. Compared to the prior year, retail sales in the quarter were up 29% in the UK, up 9% in North America, down 22% in Europe, down 17% in China and down 6% Overseas.
JLR production in the quarter was restricted to c.86,000 units, down 7% compared to the same quarter a year ago, as a result of supply disruptions from a key high‑grade aluminium supplier that affected multiple OEMS.
Wholesale volumes of 87,303 units in the second quarter of the financial year (excluding the Chery Jaguar Land Rover China JV) were down 10% compared to the same quarter a year ago due to restricted aluminium supplies. In addition, at the end of September, a temporary hold was placed on c.6,500 vehicles, largely in the UK and Europe, to allow additional quality control checks to be performed. These vehicles will be wholesaled in the second half of the year.
The overall mix of the most profitable Range Rover, Range Rover Sport and Defender models was 67% of total wholesale volumes.
We expect both production and wholesale volumes to pick up strongly in the second half of the financial year as the aluminium supply situation normalises.
JLR will report full financial results for Q2 FY25 in early November.
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