Jaguar Land Rover announced its retail sales for the April-Juen quarter fo the financial year 2021-22 on Tuesday, July 6, reporting a 68 per cent growth to 1,24,537 vehicles, compared to 74,067 vehicles sold in the corresponding quarter last year. The British multinational automotive company said that its wholesales were however lower than the demand would have allowed due to the semiconductor supply issues impacting the global auto industry.
The company, popular for its manufacture of luxury and sport utility vehicles, reported its retail sales higher in every major region including Europe +124 per cent, UK +186.9 per cent, North America +50.5 per cent, China +14 per cent, and overseas +71 per cent.
The company’s retail sales of all models other than Jaguar XE were higher and the sales of the new Land Rover Defender continued to rise with 17,194 vehicles retailed in the first quarter of the current fiscal. The wholesales stood at 84,442 units during the June quarter, up 72.6 per cent year-on-year. The wholesales figure excludes the China JV.
Jaguar Land Rover’s wholesales were about 30,000 units lower – around 27 per cent, than what it otherwise would have been planned, as a result of semiconductor supply limitations and the challenges posed amid the COVID-19 pandemic.
Meanwhile, earlier today, shares of Tata Motors – the parent of Jaguar Land Rover, crashed 10 per cent to hit an intraday low of ₹ 311.45 on the BSE, after the firmed warned of a negative operating profit margin or EBIT margin in the second quarter of the current fiscal year as it expects chip supply shortages to be greater than the first quarter.