Jaguar Land Rover India Reports Exceptional Sales Growth in Q1 FY24: Retail Sales Soar by 102%
Key Highlights:
- JLR India’s Q1 FY24 sales saw a remarkable growth of 102%
- Â Range Rover, Range Rover Sport, and Defender sales surged by an impressive 209%.
- Â The current order book increased by 88% in Q1 FY24 compared to Q1 FY23.
- Certified Pre-Owned sales witnessed a substantial rise of 137% in Q1 FY24.
- Â The company’s new corporate identity and House of Brands approach aim to highlight the uniqueness of each brand.
- A lineup of product initiatives is scheduled for the year, starting with the enhanced Range Rover Velar.
Jaguar Land Rover (JLR) India achieved remarkable sales growth in the first quarter of FY24, recording a 102% increase in retail sales with a total of 1048 units sold compared to the same period last year. The major driving force behind this outstanding performance was the exceptional growth of 209% in sales of popular models such as Range Rover, Range Rover Sport, and Defender, which together contributed 78% of the current order book.
Speaking of the order book, it saw a substantial 88% surge in Q1 FY24 compared to Q1 FY23, a growth largely attributed to the successful launch of the New Range Rover and New Range Rover Sport in the second half of FY23, as well as the positive response received for the Defender model. The current order book covers more than six months of sales and has been witnessing consistent month-on-month increases.
Moreover, JLR’s certified pre-owned business also witnessed a significant boost, experiencing a remarkable 137% growth in Q1 FY24 compared to the same period in the previous year, reflecting the increasing demand for pre-owned vehicles from the brand.
With a promising line-up of product initiatives scheduled for the year, including the launch of the enhanced Range Rover Velar, for which bookings have recently commenced, JLR aims to maintain its strong market presence and further enhance its brand identity. The company’s recent announcement of a new corporate identity and its House of Brands approach is designed to highlight the unique DNA of each of JLR’s brands – Range Rover, Defender, Discovery, and Jaguar – while accelerating the realization of the company’s vision.
