Sunday, 28 August 2016
JLR sees boost for 4x4s
JaguarLandRover has sold more than 100,000 4x4 vehicle les on the 12 weeks to the end of June. This figure is four per cent up on last year.
The increase in sales are accounted for by strong demand for Discovery Sport, Range Rover Evoque and Range Rover Sport.
Jaguar in particular experienced an increase in business, seeing sales accelerate 76 per cent year-on-year to 31,000, boosted by sales of F-PACE.
Launched in April, F-PACE reputedly has become the fastest selling Jaguar in history. Jaguar says it is designed with women in mind.
Chief executive officer Ralf Speth has seen a 10 per cent rise in second-quarter revenue to £5.5 billion, reflecting "positive customer response"
The company said that solid sales growth produced revenues up from £5 billion in the same quarter last year. EBITDA was £672 million (12.3 per cent margin) and profit before tax was £399 million for the quarter.
The operating performance in the quarter reflects overall higher wholesales, offset by adverse FX impact of £207 million including revaluation of £84 million, mainly euro payables resulting from depreciation in the pound. EBITDA margin excluding the FX revaluation was around 14 per cent.
In addition to the Jaguar F-PACE, JLR introduced the Range Rover Evoque Convertible, the world’s “most capable all-season convertible” and the Jaguar XE was introduced to the US market during the quarter.
In China, the all-new Jaguar XFL was confirmed as the first Jaguar to be built at the company’s joint venture plant in Changshu. The XFL will go on sale in China later this summer.
Overall, car sales were up 17.8 per cent year-on-year, with about 80 per cent sold outside the UK, including strong sales to China.
The report from JLR follows news that the company had experienced its best-ever July with sales up 34 per cent to 44,486 vehicles.