After years of challenges, including internal budget cuts, the COVID-19 pandemic, and the supply chain crisis, JLR announced that its 2023 sales were up about 27% over 2022, with total retail sales of 420,584 vehicles in the calendar year of 2023.
After years of challenges, including internal budget cuts, the COVID-19 pandemic, and the supply chain crisis, JLR announced that its 2023 sales were up about 27% over 2022, with total retail sales of 420,584 vehicles in the calendar year of 2023.
These sales are up from 2022, but they are still slightly down from the highs of a few years ago. In 2017, they sold 621,109 vehicles globally, which was hailed as an achievement. It was triple the sales in 2009, the first full year that Tata owned and managed Jaguar and Land Rover separate from their prior Ford financial ties.
The change is in part internal, as the company has focused on high-profit sales instead of moving more units of cheaper vehicles. The production price of a top-tier Range Rover SV compared to a standard version is not tied directly to the retail price, creating more avenues for income than building more standard models of more vehicles. There has also been a major scaling-back of the Jaguar division as it prepares to move away from the prior model of competing with the Germans in mid-market luxury sales and goes into a new all-electric moment. That movement was a major push by former CEO Dr Ralf Speth, who U-turned on the high-volume concept towards the end of his leadership.
Also impacting growth is the shrinking of the market in China. JLR has had a major local presence since around 2010, partnering with the Chinese automaker Chery. In 2010, JLR sold 26,100 vehicles in China; by 2017, they had hit a peak of 146,000 vehicles. That number has dropped down to 106,400, many of which are produced locally to get around Chinese tariffs. This will likely be offset soon by massive growth in the Indian market.
Total North American retail sales for 2023 were 90,260 vehicles. That's up 20% over 2022's 75,091 vehicles. Globally, Land Rover sales totaled 356,343 vehicles, with Jaguar pulling in 64,241 sales. The most popular vehicle worldwide was Defender, at 110,367 vehicles. (The Defender model count did not break out vehicles by the wheelbase.) Next up was Range Rover at 66,956; Range Rover Sport at 58,067; Range Rover Evoque at 47,222; Discovery Sport at 30,422; Range Rover Velar at 26,559; and Discovery 5 at 16,750.
Source: JLR Volumes Report for Q3 2024 (JLR starts their fiscal year in April, so a Q3 report covers October-December)
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