Worldwide sales improve for JLR
Sales have improved for luxury car maker JLR in the first three months of its financial year.
Wholesale volumes worldwide rose 30 per cent from a year ago to 93,523.
JLR, which has its engine manufacturing centre at the i54 north of Wolverhampton, was helped by continuing improvement in microchip and other supply constraints.
The wholesale figures exclude the Chery Jaguar Land Rover China joint venture.
Wholesales were slightly lower – down one per cent – compared to the quarter ending March 31 reflecting shipping schedules, while production was up quarter on quarter.
Retail sales for the first quarter were 101,994 – including the China joint venture – up 29 per cent compared to the same quarter a year ago.
By model, retail sales of the three most profitable models were up significantly compared to the same quarter a year ago with Range Rover up 199 per cent, Range Rover Sport up 42 per cent and Defender up 90 per cent.
The order book remained strong with more than 185,000 client orders at the end of the quarter.
JLR will report full financial results for its first quarter later this month.
Based on preliminary cash balances, JLR expects to report positive free cash flow of more than £400 million in the quarter.
