JLR India achieves 93% YoY growth in record sales in first 9 months of FY24
The company has also reported three consecutive quarters of record sales, selling 3,582 units and experiencing a year-on-year (YoY) growth of 93% in the nine-month period ending 31 December 2023.
JLR India has reported three consecutive quarters of record sales, selling 3,582 units and experiencing a year-on-year (YoY) growth of 93% in the nine-month period ending 31 December 2023. Range Rover and Defender continue to lead with a YoY increase of 250% and 150% (YTD), respectively, contributing to over 75% of the current order book.
The company achieved 74% YoY growth in the third quarter of FY24, achieving retail sales of 1,226 units. The newly launched 24MY Range Rover Velar showcased a YoY growth of 183% in the quarter, significantly bolstering sales in the period.
Rajan Amba, Managing Director, JLR India, speaking on the announcement said, “Over the past nine months, JLR's progress in India has been characterised by consistent and substantial growth. Each quarter has shown an impressive year-on-year surge of nearly 100%. The burgeoning order bank and continuous order intake signal a robust demand, underscoring promising future prospects. We are pleased to see that the eagerly awaited Range Rover BEV has generated significant interest among clients across the country, and with our upcoming launches this quarter, we are poised to sustain our remarkable growth trajectory in India."
The order book at the end of Q3 FY24 remains strong with a YoY growth of 92%. The current total order book covers more than eight months of sales and is seeing a consistent increase month-on-month.
JLR’s certified pre-owned business grew by 74% YTD versus the same period last year, reflecting the growing demand and the equity of JLR brands in India.
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