Production declines 7% in Q2 due to aluminium supply disruptions
Jaguar Land Rover, a wholly owned subsidiary of Tata Motors, has recorded retail sales of 103,108 units in Q2 FY24, lower by 3% compared to the same quarter of pervious year.
Retail sales for the first six months of FY24 were 214,288 units, up 3% on YoY basis.
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Compared to previous year, retail sales in the quarter were up 29% in the UK, up 9% in North America, down 22% in Europe, down 17% in China and down 6% overseas.
JLR production in the quarter was restricted to c.86,000 units, down 7% compared to the same quarter a year ago, as a result of supply disruptions from a key high-grade aluminium supplier that affected multiple OEMs.
Wholesale volumes of 87,303 units in Q2 FY24 were down 10% compared to the same quarter of previous year due to restricted aluminium supplies. In addition, at the end of September, a temporary hold was placed on 6,500 vehicles, largely in the UK and Europe, to allow additional quality control checks to be performed. These vehicles will be wholesaled in the second half of the year.
The overall mix of the most profitable Range Rover, Range Rover Sport and Defender models was 67% of total wholesale volumes.
“We expect both production and wholesales volumes to pick up strongly in the second half of the financial year as the aluminium supply situation normalises”, said the company.
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First Published: Oct 07 2024 | 7:42 PM IST
