Jaguar Land Rover Q3 Earnings: Global revenue of £4.7 billion / pre-tax margin rises to 1.4%

[News-Oxcart Network]

Jaguar Land Rover recently announced its financial results for the third quarter of the 2021/22 fiscal year (October-December 2021).

Jaguar Land Rover global revenue rose 22% sequentially to GBP4.7 billion, with EBIT margin improving to 1.4% and cash flow growth to £164 million, driven by a rapid increase in global supply and wholesale sales.

According to Jaguar Land Rover Global CEO Thierry Bolloré, although global sales are still affected by chip shortages, Jaguar Land Rover's global orders are still at a new high, especially the new generation of Land Rover Range Rover, with orders reaching 30,000.

For the whole of 2021, Jaguar Land Rover sold 420856 vehicles, down 1.2% year-on-year, of which the cumulative sales volume in the Chinese market 103888 vehicles, an increase of 9% year-on-year.

In the Chinese market, the Land Rover brand performed strongly, benefiting from the new launch of a number of blockbuster products, and the brand's full-year sales increased by 12% year-on-year. Range Rover, Defender and Defender 110 models have all become important drivers of sales growth.

In addition, in order to commemorate the 38th anniversary of the cooperation between Land Rover and 007 Films, Jaguar Land Rover specially launched a new car with 007 elements for 1700007 yuan, which also effectively enhanced the brand recognition of The Guardian models.

In contrast, the Jaguar brand has performed slightly less in the Chinese market, focusing on the sale of XEL and XFL, with full-year sales of 12,100 and 7,249 vehicles in 2021, respectively. Jaguar announced that by 2025, the Jaguar brand will not launch new models.

From the perspective of sales performance, the Chinese market has become an important sales growth point for Jaguar Land Rover. Looking forward to 2022, Jaguar Land Rover will continue to deepen the "reinvent the future" strategy, and continue to increase the number of electric vehicle models based on platform architecture and technology empowerment such as lightweight.

Since the Jaguar brand will not launch new products for the time being, the task of pushing new products will mainly fall on Land Rover. In the next 5 years, the Land Rover brand will launch 6 pure electric models, the first pure circuit Tiger model will be launched in 2024, and by 2030 60% of Land Rover's products will be pure electric models. From 2025, Jaguar will become a pure electric luxury brand.