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JLR retail sales dip 5.8 pc in 2018-19

Press Trust of India  |  New Delhi 

Tata Motors-owned Jaguar Land Rover (JLR) Monday reported 5.8 per cent decline in retail sales at 5,78,915 units for financial year 2018-19.

During the year, the all-electric Jaguar I-PACE was introduced and sales of the Jaguar E-PACE, Range Rover Velar and the refreshed Range Rover and Range Rover Sport ramped up, the company said in a statement.

However, this was offset by continuing weakness in China and the run out of the first generation Range Rover Evoque, it added.

Sales for 2018-19 were up year-on-year in North America (by 8.1 per cent) but down 34.1 per cent in China.

"Clearly we were disappointed by the lower sales in China. However, together with our retailers we decided not to push sales 'at any cost' to ensure that our brands remain desirable," JLR Chief Commercial Officer Felix Brautigam said.

In the mid term, the company remains optimistic about the region, he added.

"Particularly, as we are starting to see results of our local turnaround strategy, with retails expected to stabilise in the next few months and grow thereafter," Brautigam said.

While Jaguar retail sales were up 3.2 per cent to 1,80,198 units in 2018-19, Land Rover retailed 3,98,717 units, down 9.3 per cent as compared with 2017-18.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 08 2019. 18:05 IST
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