Jaguar Land Rover, the luxury carmaker owned by Tata Motors, has seen a remarkable 22 per cent increase in retail sales for the fiscal year ending March 31, 2024, hitting 431,733 units. Wholesale volumes also surged by 25 per cent to 401,303 units.
Throughout the fiscal year, Jaguar Land Rover saw growth in wholesale volumes and retail sales across all regions. In the fourth quarter, wholesales reached 110,190 units, up 16 per cent. Retail sales in the January-March quarter were at 114,038 units, marking an 11 per cent increase.
While there was an overall positive trend, retail sales in China and Europe declined by 9 per cent and 2 per cent, respectively, in the fourth quarter. However, the UK, North America, and the Overseas region experienced significant growth in retail sales with increases of 32 per cent, 21 per cent, and 16 per cent, respectively.
Jaguar Land Rover recently announced a shift towards electric vehicles (EVs), with plans to stop producing Internal Combustion Engine (ICE) models by June 2024. The company will focus on Battery Electric Vehicles (BEVs) and introduce three new models on the Jaguar Electric Architecture (JEA) platform. The first model, a four-seat GT, is expected to be revealed later this year.
Despite facing a decline in sales in recent years, Jaguar is leading the charge in electrification, aiming for innovation and growth. With ambitious plans for a fully electric lineup, Jaguar’s electrification strategy could signal a new era for the company.
