Jaguar Land Rover Global Sales Dip By 15.5% In August 2020

Tata Motors-owned Jaguar Land Rover has posted a decline of 15.5 per cent in sales for August 2020. According to the regulatory filing, the British automaker sold 28,887 units last month, seeing a sharp decline in year-on-year volumes when compared to the same month last year. The luxury carmaker also saw a year-on-year drop in sales in the markets like North America, Europe and China. However, JLR saw some encouraging numbers in the UK market with recovering sentiments from the market and the launch of Defender SUV.

By Charanpreet Singh

1 mins read

Published on September 13, 2020

Highlights

JLR's global retail sales dropped by 15.5% last month
JLR recorded YoY drop in retail sales in North America, China & Europe
JLR sold 3,098 units in the UK posting a YoY growth of 14% in August

Tata Motors-owned Jaguar Land Rover has posted a decline of 15.5 per cent in sales for August 2020 globally. According to a regulatory filing, the British automaker sold 28,887 units last month, seeing a sharp decline in year-on-year volumes when compared to the same month last year. The luxury carmaker also saw a year-on-year drop in sales in the markets like North America, Europe and China. However, JLR saw some encouraging numbers in the UK market with a boost thanks to the launch of Defender SUV. Also Read: Jaguar Land Rover Invents A Way To Counter Motion Sickness In Autonomous Cars The company recorded a 15.5% year-on-year decline to 28,887 units in its global sales for August The British luxury auto manufacturer retailed 8,187 units in China recording a fall of 7 per cent on year-on-year volumes. The carmaker sold 8,180 units and 5,186 units in the North American and European markets recording a drop of 17 per cent and 25 per cent year-on-year sales respectively. It managed to sell 3,098 units in the UK posting a year-on-year growth of 14 per cent last month. It is worth noting that JLR's retail numbers are sequentially lower in August as compared to June and July global volumes, which were 35,334 units and 36,421 units respectively. The numbers recorded in August are down by 25 per cent YoY (June) and down by 4 per cent (July) respectively. The total global sales for the June quarter recorded by the company stood at 74,067 units, which was disrupted by covid-19 pandemic that brought the retails sales down by more than 42 per cent. Also Read: Tata Motors Denies Intent Of Selling Stake In Jaguar Land Rover August retails dropped by 25 per cent & 4 per cent as compared to June & July respectively. The company said in a statement that, "Although down YoY 4.0% (July) and 15.5% (August) respectively, both months represent further recovery from Q1 FY21 when sales were down 42.4% with June down 24.9%." JLR is very optimistic with the all-new Defender SUV, as the company has already banked orders of more than 30,000 units. Also, the company has ramped up the production at its Slovakia manufacturing unit to meet the demand as Europe and other important markets are showing signs of recovery.