JLR achieves highest wholesales in 11 quarters, reports 27% YoY growth in Q3FY24; check details
Also Read: SUV allure lifts passenger vehicle sales past 4 million in 2023 Notably, the Range Rover Sport wholesale volumes witnessed a surge of 49% YoY, with 16,921 units. Similarly, Range Rover achieved a 12% YoY increase with 18,843, while Defender saw a rise of 14% YoY, reaching 27,117. Wholesale volumes for the financial year to date were 291,113, up 28% YoY, according to the company.
Retail sales for the third quarter were also up by 29% YoY to 109,140 units compared to the same quarter a year ago and were up 2% on a QoQ basis. Also Read: Titan records 22% revenue growth for Q3 FY24, sales grow by 21% Retail volumes demonstrated notable growth across all regions year-on-year, with the UK leading with a 55% increase. Overseas markets saw a substantial uptick of 49%, while China and Europe experienced robust growth rates of 28% and 27%, respectively.
Even in North America, where the market is highly competitive, retail volumes showed a commendable 6% year-on-year increase. Also Read: Tata Power unveils ₹70,000-crore green energy push in Tamil Nadu "The order book continues to reflect strong demand for JLR products, with 148k client orders at the end of the third quarter. This has reduced from 168k at the end of the second quarter, reflecting increased order fulfilment to clients and resulting in improved client waiting times for our highly desirable vehicles.
Demand for Range Rover, Range Rover Sport, and Defender remains particularly strong, representing 76% of the order book," the company said. JLR will report full financial results for Q3 FY24 at the beginning of February. Disclaimer: We advise investors to check with certified experts before taking any investment decisions.Milestone Alert!
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