Introduction
Jaguar Land Rover (JLR) India is thrilled to share some truly exciting news about their recent performance in the Indian market. Over the past nine months, spanning from April 1 to December 31, 2023, the company has experienced a remarkable surge in sales achieving an impressive 93 percent year-on-year growth. This accomplishment is all the more remarkable because of the steady and strong increase that was observed over three quarters culminating in a run of sales records.
Top Performers: Range Rover and Defender Dominate
Among the standout performers driving this outstanding success are the Range Rover and Defender models. Not only have these two cars won over customers' hearts, but they have also been crucial to the company's overall sales success. A remarkable 250 percent year-to-date growth in sales of Range Rovers in particular highlights the vehicle's attraction and popularity in the market. In the meantime, the Defender saw a notable growth of 150 percent confirming its role as a major factor in the brand's success. These two models together made up a whopping 75% of the overall sales demonstrating their importance in the company's line of products.
Robust Q3 Performance and Key Highlights
The third quarter of the fiscal year 2024, spanning from October to December 2023, proved to be especially noteworthy for JLR India. During this period, the company achieved a stellar 74 percent year-on-year growth, resulting in retail sales of 1,226 units. Notably, the Range Rover Velar facelift, which had its prices unveiled in July of the previous year, experienced an exceptional year-on-year growth of 183 percent in this quarter. This not only contributed significantly to the overall sales results but also showed how well-received upgraded models and thoughtful pricing tactics were by the market.
Positive Outlook and Future Prospects
Rajan Amba, the managing director of JLR India expressed his satisfaction with the company's progress in the Indian market. He highlighted the consistent and substantial growth witnessed in each quarter showcasing an almost 100 percent year-on-year surge. Amba also noted the robust demand reflected in the growing order bank and continuous order intake, indicating promising future prospects for the brand. Amba mentioned that the eagerly awaited Range Rover BEV (Battery Electric Vehicle) has generated significant interest among clients across the country. With upcoming launches planned for the current quarter, JLR is poised to sustain its remarkable growth trajectory in India.
Certified Pre-Owned Business Flourishes
Beyond the success in new car sales, JLR's certified pre-owned business has also flourished. The company reported a substantial 74 percent increase year-to-date compared to the same period the previous year. The pre-owned market is trending upward, which implies that consumers have more options and that there is a growing market need for premium certified pre-owned JLR automobiles.
JLR India is excited about the future in addition to acknowledging its current successes. With a strong product range, positive market feedback, and strategic decisions, the company intends to keep expanding and consolidating its position as a key player in the Indian car sector.