Jaguar Land Rover on recovery path

Jaguar Land Rover on recovery path
By Willie Samson

JAGUAR Land Rover marked the end of 2020 with a second successive quarter-on-quarter recovery in sales, despite the continuing impact of COVID-19.

Felix Brautigam, Jaguar Land Rover Chief Commercial Officer, said: “2020 was a year of two halves and, although COVID-19 continues to significantly impact the global auto industry, we are delighted to end the year with a second consecutive quarter of sales recovery.

“Our performance in China, the region least impacted by COVID-19 in the most recent quarter, has been particularly encouraging with our sales there growing on both a year-on-year and quarter-on-quarter basis.

“Retail sales for the quarter ending December 31, 2020 were 128,469 vehicles, 13.1 percent higher than the 113,569 vehicles sold in the preceding quarter, but down 9.0 percent on the same period last year.

“China sales were particularly encouraging, up 20.2 percent on the prior quarter and 19.1 percent year-on-year.

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“Retail sales in most other regions also continued to recover and were up significantly on the prior quarter in North America (+31.7 percent), Overseas (+26.6 percent) which is where the sub-Sahara African markets contribute, and Europe (+20.5 percent). However, sales in these regions have not yet recovered to pre-COVID levels with sales for the quarter lower than a year ago in North America (-17.2 percent), Overseas (-20.0 percent), Europe (-16.3 percent) and the UK (-8.9 percent).

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“The sales ramp-up of the new Land Rover Defender saw retails rising to 16,286 vehicles in the October to December quarter, up 66.0 percent on the preceding quarter with sales of the shorter wheelbase Defender 90 has started.

“For Jaguar, retail sales of the multi-award-winning all-electric I-PACE were up 69.3 percent year-on-year with 7,807 sold in the quarter, as demand for electric vehicles continues to grow.

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“For the calendar year 2020, Jaguar Land Rover retail sales were 425,974, down 23.6 percent on 2019, reflecting the industry impact of COVID-19 particularly in the first half of the year when plants were shut down for more than two months.”

However, the company has since seen sales increase quarter-on-quarter by over 53 percent in the quarter ended September 30, followed by the 13.1 percent increase in the most recent quarter.

In response to strengthening global demand, Jaguar Land Rover has continued to roll out its exciting new range of 21 Model Year vehicles, incorporating the very latest technologies.

Brautigam said the company remains committed to its electrification strategy and has a growing portfolio of electrified Jaguar and Land Rover vehicles, embracing fully electric, plug-in hybrid (PHEV) and mild hybrid (MHEV) vehicles, as well as continuing to offer the latest diesel and petrol engines, giving its customers even more choice.

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Following the significant expansion over the year, electrified options now extend to 12 models across the Jaguar and Land Rover portfolios, with PHEV available on 8 vehicle lines and MHEV on 11, as well as the all-electric Jaguar I-PACE.

With sales of new electrified vehicles including the Land Rover Discovery Sport and the Range Rover Evoque PHEVs ramping up through the October to December quarter, a total of 53% of the company’s retail sales for the three-month period were electrified. This included 6.1% all-electric, 5.5% PHEV and 41.4% MHEV.

This brings the share of electrification to 43.3% of the company’s sales for 2020, with that figure poised for further growth in 2021 and beyond.

Vanguard News Nigeria

The post Jaguar Land Rover on recovery path appeared first on Vanguard News.


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