Jaguar Land Rover: Significant Sales Growth in North America Offset
Deepthi | Myequity news | Date : 07-02-2019 18:40:00 IST
Jaguar Land Rover retail sales in January 2019 were 43,733 vehicles, down 10.9% compared to January last year. Strong sales of E-PACE, I- PACE and refreshed Range Rover and Range Rover Sport were more than offset by continuing market weakness in China and the run out of the Range Rover Evoque, ahead of the introduction of the all new Evoque later this quarter.
Retails in North America were up 13.2% but sales in China were down -39.8% reflecting continuing weakness in the market. Sales were also down in Europe (-5.7%) amid slowing economic growth and continuing diesel uncertainty while staying broadly flat in Overseas markets (-1.0%) and in the UK (-0.9%).
Jaguar retail sales in January were 12,799 vehicles, down 9.0% year-on-year. Sales of the new E-PACE and all-electric I-PACE grew while sales of other models were lower largely reflecting the China market.
Land Rover retailed 30,934 vehicles in January, down 11.6 % year-on-year as strong sales of the refreshed Range Rover and Range Rover Sport were more than offset by the run out of the Evoque and lower sales of other models largely reflecting weaker demand in China.
Felix Brautigam, Jaguar Land Rover Chief Commercial Officer, said: “We have begun the new year with a stellar start in North America, achieving our best ever January sales and significantly outperforming the industry, this reflects the strength of our brands and demand for our exciting product line-up. The economic slowdown in China continues to impact consumer confidence but, as part of our turnaround plan, we are working extensively with our retailers to rejuvenate sales.
At Jaguar the sporty compact E-PACE and all-electric I-PACE sold particularly well, driving Jaguar sales for the current fiscal year which are at their highest level ever. Despite this, sales saw a dip in January due to lower demand for the F-PACE and the XF in China.
The transition from the outgoing Range Rover Evoque and lower Discovery Sport sales in China impacted Land Rover sales, but we are encouraged by continued demand for the refreshed Range Rover and Range Rover Sport. With deliveries of the new Evoque due to start later this quarter we look forward to building momentum as we head into the year.”
About Jaguar Land Rover
Jaguar Land Rover is the UK’s largest automotive manufacturer, built around two iconic British car brands: Land Rover, the world’s leading manufacturer of premium all-wheel-drive vehicles; and Jaguar, one of the world’s premier luxury sports saloon and sports car marques.