Jaguar Land Rover Accelerates Growth in Q4 and FY2024

Jaguar Land Rover (JLR), the iconic British automaker owned by Tata Motors, has concluded a successful fiscal year with impressive sales figures for both Q4 FY2024 and the entire year ending March 31, 2024. JLR reported a significant 20% year-over-year (YoY) growth in sales on the back of improved production capabilities and continued global demand for their luxury vehicles,

Strong Q4 Performance

• Wholesale Sales Surge: JLR saw a notable increase in wholesale volumes during Q4 FY2024. Excluding their China joint venture (Chery Jaguar Land Rover China JV), wholesale sales grew by 16% compared to the same quarter last year. Notably, this indicates a further growth of 9% against Q3 FY2024 (ended December 31, 2023), indicating a consistent upward trend.
• Brand-Wise Growth: The positive sales momentum was evident across all JLR brands. The luxurious Range Rover led the pack with a remarkable 22% YoY increase in wholesale volume, reaching a total of 58,280 units sold in Q4. The rugged Defender and the stylish Jaguar also witnessed healthy growth, with sales rising by 5% and 39%, respectively, against the previous year.
• Retail Sales Gain Traction: JLR’s retail sales showcased the positive trend observed in wholesale figures. Including the Chery Jaguar Land Rover China JV, retail sales during Q4 FY2024 reached 114,038 units, reflecting an 11% YoY growth. This indicates a strong consumer demand for JLR vehicles across various global markets.

Full Year Recap: A Year of Growth

JLR’s performance remains impressive throughout FY2024. Wholesale volumes for FY2024 reached a significant 401,303 units, reflecting a substantial 25% increase over the previous year. Retail sales followed a similar trajectory, reaching a total of 431,733 units, which translates to a 22% YoY growth.

Regional Variations

While JLR’s overall performance is undeniably positive, it’s important to note some regional variations in retail sales for Q4 FY2024. Markets like the UK, North America, and Overseas regions witnessed significant growth of 32%, 21%, and 16% respectively compared to the previous year. However, retail sales in China and Europe experienced slight declines of 9% and 2% respectively during Q4.

About Jaguar Land Rover

Jaguar Land Rover is a British car manufacturer and a subsidiary of Tata Motors Limited, which produces luxury vehicles and sports utility vehicles.

About Tata Motors Limited

Tata Motors Group is one of the leading global automobile manufacturers, offering a wide and diverse portfolio of cars, sports utility vehicles, trucks, buses, and defence vehicles.

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