Jaguar Land Rover ends 2021 with losses

Worldwide
Published:  01 February, 2022
Credit: Jaguar Land Rover

The car manufacturer has reported its results for the three-month period to December 31, 2021, showing decreases in retail sales across the board, due primarily to the global semiconductor shortage.

Retail sales for the quarter were 80,126 vehicles, down 13.6% from the preceding quarter ending September 30, 2021, and 37.6% from the same period in 2020. Retail sales were lower across all regions compared to the preceding quarter, including China (-6.9%), Europe (-6.8%), North America (-11.8%), UK (-24.3%) and Overseas (-25.4%).

However, the company reports that wholesale volumes were 69,182 units and production volumes were 72,184 units in the period (both excluding a China JV), up 8% and 41% respectively compared with the preceding quarter. Jaguar Land Rover reports that this increase in production reflects a start in improved chip supply.

Retail sales for the 2021 calendar year were 420,856, down 1.2% compared to the 2020 calendar year with Land Rover sales up 3.4%.

Despite the impact of the semiconductor shortage, Jaguar Land Rover says that continues to see strong demand for its products with record retail orders globally. Its total order book has exceeded 154,000 units.