Jaguar Land Rover has reported a jump in wholesale volumes during the last quarter as well as an increase in the number of orders it has on its books.
Results from the automaker’s third-quarter of the 2023 financial year, running from the October 1 to December 31, 2022, reveal that wholesale volumes jumped 5.7 per cent compared to the prior quarter ending September 30, 2022 to 79,591 units and 15 per cent compared to the same quarter a year ago.
Wholesale volumes were particularly strong in North America where they rose by 17 per cent as well as in the UK, jumping by 13 per cent and in other overseas markets by a combined 10 per cent. However, they did drop by 13 per cent in China and 3 per cent in Europe.
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During the final three months of the 2022 calendar year, retail sales rose by 5.9 per cent compared to the same quarter last year to 84,827 but were down some 3.7 per cent from the previous quarter.
Jaguar Land Rover notes that demand for its vehicles remains strong and that as of December 31, 2022, it had some 215,000 orders, an increase of approximately 10,000 from the end of September. The new Range Rover, Range Rover Sport, and Land Rover Defender represent 74 per cent of the total order books.
The car manufacturer will report its financial results for the quarter ending December 31, 2022 on January 25, 2023. It expects free cash flow to be over £400 million ($486 million) positive.
