Jaguar Land Rover, a subsidiary of Tata Motors, has reported an impressive 27% increase in total wholesales, reaching 1.01 lakh units during the third quarter ending on December 31, 2023. This significant growth marks the highest wholesales achieved by Jaguar Land Rover in 11 quarters, showcasing a robust performance in the luxury vehicle segment.
According to the statement released by Jaguar Land Rover on the BSE platform by Tata Motors, the year-to-date wholesales for the fiscal year 2023-24 have reached 2.91 lakh units, reflecting a remarkable 28% year-on-year increase. This positive trajectory underscores the sustained demand and consumer preference for Jaguar Land Rover vehicles.
Despite a dip in the number of client orders from 1.68 lakh at the end of the second quarter to 1.48 lakh at the close of the third quarter, the order book continues to demonstrate strong demand for Jaguar Land Rover products. The decrease in orders is attributed to the increased focus on order fulfilment, resulting in extended waiting times for vehicle delivery, as explained by JLR.
A noteworthy aspect highlighted in the statement is the consistent surge in demand for specific models, including Range Rover, Range Rover Sport, and Defender. Together, these models represent a substantial 76% of the order book, indicating a clear preference among consumers for these luxury offerings.
As the luxury automotive sector continues to evolve, Jaguar Land Rover’s performance in the third quarter underscores its resilience and ability to meet the preferences of discerning consumers.
