Jaguar Land Rover Says Falling Sales Reflect Market Uncertainty

Jaguar Land Rover reported total worldwide retail sales of 36,144 vehicles in July 2018, down 21.6% year on year, primarily reflecting transitional issues in certain markets.

July
2018

Change
year-on-year

Jan – July 2018

Change
year-on-year

Jaguar
Land Rover

36,144

(21.6)%

354,363

(2.4)%

Jaguar

10,992

(15.2)%

105,047

(2.9)%

Land Rover

25,152

(24.0)%

249,316

(2.2)%

JLR - JAGUAR LAND ROVER REPORTS SALES RESULTS

Retails for July were down in China (46.9%), reflecting continued market volatility in the first month of the duty change as well as trade tensions. Sales were also down in Europe (26.5%) and the UK (18.3%), impacted by the industry-wide issue of delays in WLTP certification of 2019 model year vehicles. Jaguar Land Rover has made good progress however and all its vehicles are certified or expected to be shortly. Retail sales were also down in North America (9.5%), resulting from softer industry volumes (down more than 3%) combined with foregoing some higher discounted business and later timing for new model year launches this year compared to a year ago. Sales in Overseas markets were up 8.6%.

Jaguar Land Rover continues to expect sales growth for the full year with its strongest product line-up ever and new products to support growth. These include the Range Rover Velar, the Jaguar E-PACE, the refreshed Range Rover and Range Rover Sport with a plug-in hybrid electric (PHEV) option and the Jaguar XEL long-wheelbase in China, while sales of the exciting electric Jaguar I-PACE have started with a strong order book in excess of six months.

We have had challenges to navigate in key markets this month. Despite that we have lots of reasons to be positive. After some short delays because of the transfer to WLTP emissions regulations we are now well-placed in the premium market. We anticipate the impact of this transfer will be short-lived. We are also adapting to the impact of tariff changes in the Chinese market. While this could strengthen demand, the trade conflict with the USA has a negative effect on automotive buyers’ confidence and transaction prices in China. Also the US car market has recently shown signs of softening. We remain positive and confident in our award-winning product line-up. The new E-PACE, our sporty compact SUV, is boosting sales for Jaguar. It’s about to go on sale in China and we’re expecting success there too. The electric Jaguar I-PACE, which has impressed the world’s media, is now starting deliveries. Demand for Land Rover is also encouraging. Despite market challenges, the Range Rover Velar and newly revised Range Rover and Range Rover Sport models, including the new plug-in hybrid versions, are winning new customers around the world.
— Felix Brautigam, Jaguar Land Rover Chief Commercial Officer

For July Jaguar retail sales were 10,992 and Land Rover retail sales were 25,152 vehicles, down 15.2% and 24.0% respectively on the same month last year.

Jaguar Land Rover total retail sales for the first seven months of 2018 calendar year were 354,363, down 2.4% compared to the same period a year ago.

Staff

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