Jaguar Land Rover (JLR) India achieved remarkable results in the first quarter of FY24, recording its best-ever Q1 sales performance with a staggering growth rate of 102%. During this period, the company sold a total of 1,048 units, doubling its volumes compared to the same quarter in the previous fiscal year.
The outstanding growth was mainly attributed to the phenomenal success of the Range Rover, Range Rover Sport, and Defender models, which witnessed an impressive 209% increase in sales. These three models collectively accounted for 78% of the current order book, indicating sustained demand from customers.
Rajan Amba, the Managing Director of JLR India, expressed his pride in achieving record sales and credited the strong performance to the exceptional reputation of the JLR brands and their collection of luxurious and modern vehicles. He highlighted the company’s commitment to distinctive design language and renowned all-terrain capability, emphasizing their dedication to world-class safety standards.
The successful launch of the New Range Rover and New Range Rover Sport in the previous fiscal year, along with the positive response to the Defender, contributed to an 88% growth in the order book for Q1 FY24 compared to the same period last year. The current order book is now capable of covering more than six months of sales and is continuously expanding month-on-month.
The JLR certified pre-owned business also experienced significant growth, rising by 137% during the first quarter of FY24. This surge in demand further reflects the strong equity of JLR brands in the Indian market.
Looking ahead, JLR has an exciting lineup of product initiatives scheduled for the year, starting with the eagerly anticipated release of the enhanced Range Rover Velar, for which bookings have recently commenced.
The company recently announced its new corporate identity and House of Brands approach, aimed at highlighting the unique DNA of each of its brands – Range Rover, Defender, Discovery, and Jaguar. This strategy is expected to strengthen the company’s vision and accelerate its growth in the market.