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Jaguar Land Rover announces sales for 2018

Posted On: 2019-01-10 16:39:26

Jaguar Land Rover retail sales in 2018 totalled 592,708 vehicles, down 4.6% compared to 2017's record year. The introduction of the Jaguar E-PACE and I-PACE led to Jaguar's best ever annual sales results in 2018 up 1.2% to 180,833. However, this was more than offset by market weakness in China impacting on sales of established models. The lower sales in China (-21.6%) were partially offset by stronger sales in North America 7.2% and Overseas (7.3%). Weaker market conditions primarily relating to diesel and Brexit also weighed on sales in the UK (-1.5%) and Europe (-7.8%). The all new Range Rover Evoque has now been announced and will be going on sale later this year.

Retail sales for the month of December were 52,160, down 6.4% year-on-year primarily reflecting ongoing challenging market conditions in China (down 42.4%) as slowing economic growth and trade tensions with the U.S. continue to impact automotive sales volumes across the industry, which were lower for the sixth consecutive month.

Jaguar Land Rover continues to work closely with retailers in China to respond to the present market conditions.

Jaguar Land Rover generated strong December retail sales growth in North America (21.4%), Europe (7.6%) and the UK (7.8%), outperforming the industry in each of these markets, while sales in Overseas markets fell 9.6% year-on-year.

Jaguar retail sales increased to 16,165 vehicles in December, up 7.2% year-on-year, driven by the introduction of the E-PACE and the all-electric I-PACE, partially offset by lower sales of sedans and the F-PACE.

Land Rover retailed 35,995 vehicles in December, down 11.4% year-on-year as strong sales of the refreshed Range Rover and Range Rover Sport were more than offset by lower sales of more established models, primarily in China. Retail sales of the all new Range Rover Evoque are expected to begin in early 2019.

Felix Brautigam, Jaguar Land Rover Chief Commercial Officer, said: "We have seen a strong end to the year in North America, Europe and the UK. Sales were up despite challenging market conditions, including regulatory changes and diesel uncertainty, which have impacted sales performance throughout the year. The UK's performance in particular has been encouraging in a market segment which is down.

The economic slowdown in China along with ongoing trade tensions is continuing to influence consumer confidence. The impact is being felt across several industries globally. Despite this we continue to work closely with retailers and are taking the necessary actions to balance production with demand in order to rejuvenate sales as part of our turnaround plan for the business.

"Encouragingly sales of Jaguar models reached 180,833, and marked a record year for the Jaguar brand. This sustained interest against difficult market conditions shows the attractiveness of our varied model portfolio from sports cars to sporty premium sedans and sporty SUVs. The new I-PACE, the first premium-luxury EV from an established manufacturer was launched to very positive critical acclaim, winning awards around the globe and confirming the innovative and sporty spirit of Jaguar.

Sales of Land Rover models fell by 6.9% as market conditions in China and Europe and the run-out of the current Evoque held back performance. Strong sales of the new Range Rover Velar, World Car Design 2018, and the re-freshed Range Rover and Range Rover Sport with plug-in hybrid technology partially compensated for that, leading to a Land Rover record year in North America or the Overseas Region. With the launch of the all-new compact yet sophisticated Range Rover Evoque in 2019 we expect to see a boost in demand. Customers are able to choose from state-of-the-art petrol and diesel engines with mild and soon plug-in hybrid options, demonstrating our commitment to driving a cleaner and more sustainable future, without losing any of Land Rover's legendary capability."

Shares of TATA MOTORS LTD. was last trading in BSE at Rs.185.55 as compared to the previous close of Rs. 183.1. The total number of shares traded during the day was 1395744 in over 7747 trades.

The stock hit an intraday high of Rs. 186.8 and intraday low of 183.4. The net turnover during the day was Rs. 259161875.


Source: Equity Bulls

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