Jaguar Land Rover Reports 37% Decline In Retails Sales In June Quarter
Sales of Jaguar brand were down 48% at 15,207 units in the April-June period of 2022.
Tata Motors Ltd.-owned Jaguar Land Rover on Thursday reported a 37% decline in retail sales at 78,825 units in the quarter ended June, impacted by semiconductor shortage, Covid-19 lockdowns in China and new model transition of Range Rover Sport.
Sales of Jaguar brand were down 48% at 15,207 units in the April-June period of 2022, while that of Land Rover were also lower by 33% at 63,618 units.
"Despite a record order book, sales continue to be constrained by the global chip shortage, compounded by the run out of the prior model Range Rover Sport, with deliveries just starting, and the impact of Covid lockdowns in China," JLR said in a statement shared on bourses by Tata Motors.
JLR, however, said it continues to see strong demand for its products, with global retail orders again setting new records in the quarter.
As of June 2022, the total order book has grown to almost 2 lakh units, up around 32,000 orders from March 2022, it added.
Demand for the new Range Rover was particularly stronger with over 62,000 orders, the company said. A similar trend is seen for the new Range Rover Sport and Defender with 20,000 and 46,000 orders respectively.