Jaguar Land Rover retail sales in Fiscal 2019/20 were 508,659 vehicles, down 12.1% on Fiscal 2018/19, primarily as a result of the coronavirus pandemic significantly impacting sales in the fourth quarter of the fiscal year.
The company’s total retail sales for the quarter ending 31 March 2020 were 109,869 vehicles, down 30.9% compared to the same period last year.
JAGUAR LAND ROVER
Fiscal 2019/20 sales have been impacted across all regions with lower sales in North America (7.5% down on record prior year), China (8.9%), UK (9.6%), Europe (16.1%) and overseas (20.3%). China had generated double-digit growth in Q2 and Q3 and, with lockdown measures easing, nearly all of the company’s retailers in the region have now reopened and sales are recovering.
Despite the impact of coronavirus, retail sales of the new Range Rover Evoque were up 24.7% year-on-year and sales of the all-electric Jaguar I-PACE increased by 40.0%. The very first sales of the new Land Rover Defender also took place in the fourth quarter.
In light of the ongoing coronavirus situation, Jaguar Land Rover has temporarily suspended production at its facilities outside China. In addition, the company is tightly managing all other costs and investments as well as working capital. Jaguar Land Rover will be reporting audited results for the financial year ended 31 March 2020 at a later date but ended this financial year with £3.6 billion of cash and short-term investments (unaudited) and an undrawn revolving credit facility of £1.9 billion.
The company is rigorously following the guidance of all the relevant authorities in the countries in which it operates and will work towards a phased return to production as soon as conditions permit. This will include implementing robust screening protocols to best practice standards.
2019/20 has been a year of unprecedented disruption for the automotive sector. Despite the impact of regulatory change, shifting consumer tastes, Brexit and ongoing trade tensions, sales for Jaguar and Land Rover were showing improvement until the coronavirus pandemic hit in the fourth quarter.
Through the year, our diverse portfolio of Jaguar sports cars, SUVs, sedans and crossover vehicles continued to excite customers across the globe. Most recently, we launched our new, more assertive, Jaguar F-TYPE to very positive customer and media response. With the increasing demand for alternative powertrains, we were pleased to see sustained growth in sales of the multiple award-winning Jaguar I-PACE, the world’s first all-electric performance SUV from an established brand.
We were also encouraged by the ongoing strength of our existing vehicles and the positive reception for our latest models. Range Rover and Range Rover Sport, for example, retain their appeal thanks to regular updates such as plug-in hybrid technology. Demand has been particularly strong for the new Range Rover Evoque with sales up nearly 25% year-on-year. And we will soon offer highly competitive plug-in hybrid versions of both the Evoque and the Land Rover Discovery Sport. 2019 saw us unveil the all-new Land Rover Defender, the world’s most iconic 4×4, reimagined for the 21st century. There has been unprecedented interest in our most capable Land Rover ever.
JAGUAR LAND ROVER CHIEF COMMERCIAL OFFICER
Jaguar Land Rover is doing whatever it can to support its communities through the current situation. To date, this has included the deployment of more than 300 Jaguar and Land Rover vehicles around the world to organizations such as the Red Cross and other emergency services. The new Defender, for example, has gone straight into the action to reach vulnerable people. The company has offered its research, engineering and manufacturing expertise to support the development of medical and personal protective equipment. It has recently started production and delivery of NHS-approved protective visors for frontline medical staff to answer the government call for more vital equipment to fight coronavirus. The reusable face visors are being manufactured at Jaguar Land Rover’s rapid prototype 3-D printing facility, one of the most advanced in Europe. The company is also encouraging its employees to get involved with national and local community efforts to support the vulnerable and in need, including the call for Volunteer Responders in the UK and all around the world.