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JLR sales down 10.9pc worldwide in January

By John Corser | Wolverhampton | Business | Published: | Last Updated:

Car sales for Jaguar Land Rover dipped by 10.9 per cent in January.

Sales of the all-electric Jaguar I-PACE were strong in January

Continuing falling sales in China were a major factor as total sales for the luxury car group fell from 49,066 in January 2018 to 43,733.

There were strong sales of Jaguar E-PACE and I-PACE models and thed refreshed Range Rover and Range Rover Sport.

Sales in North America were up 13.2 per cent but China was down 39.8 per cent and Europe also slipped by 5.7 per cent amid slowing economic growth and continuing diesel uncertainty.

In the UK there was an 0.9 per cent decline to 7,758.

Jaguar retail sales in January were 12,799 vehicles, down nine per cent year-on-year. Sales of the new E-PACE were up 99 per cent to 3,205 and the all-electric I-PACE sold 1,011.

Land Rover sold 30,934 vehicles in the month, down 11.6 per cent year-on-year as strong sales of the refreshed Range Rover (up 60 per cent to 4,955) and Range Rover Sport (up 31.3 per cent to 7,122) 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, JLR 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.

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“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.”

JLR total retail sales for the 10 months to the end of January were 463,732, down 5.5 per cent compared to the same period a year before.

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JLR, which has its engine manufacturing centre at the i54 to the north of Wolverhampton, and car plants at Solihull, Castle Bromwich and Halewood in Merseyside, reported a £273 million pre-tax loss for the last three months of 2018.

The luxury car maker saw revenue down from £6.3 billion a year before to £6.2bn.

Its transformation programme is on track to achieve £2.5bn of cash and profit improvement by March 2020.

The company announced last month that it would reduce its global workforce by 4,500 people. This is expected to result in a one-time exceptional redundancy cost of about £200m.

Given the falling for its vehicles JLR has decided that capital investment should be adjusted down, resulting in a non-cash £3.1bn pre-tax exceptional charge and an overall pre-tax loss of £3.4bn for the quarter.

John Corser

By John Corser
Business Reporter - @JohnCorser_Star

Express & Star Business Editor at head office, Wolverhampton. Welcomes all news of companies and business organisations.

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