At Jaguar Land Rover, they can look back with satisfaction on the last quarter of 2022. A considerable profit has been made, while a quarter earlier there was a loss.
Jaguar Land Rover, JLR for short, closed 2022 with an order book filled with no fewer than 215,000 orders. According to the company, that is a record and although the pile of orders also has to deal with delivery problems, JLR is able to capitalize on its popularity. The good news is therefore not only in the numbers, but also in the profit figures.
JLR’s success during this period is largely due to three models: the new Range Rover, the new Range Rover Sport and the not quite new Land Rover Defender. Together, these three large, expensive and therefore profitable models account for no less than 74 percent (!) of the order book. That in itself is not all good news, but it does explain how profits were able to reach £265 million. That is a huge difference from the quarter before, when it lost £67 million.
The big absentee among the most popular models is Jaguar, which now has a somewhat outdated range. It is also remarkable that JLR has not yet converted its initial lead with the electric Jaguar i-Pace into a wider electric range, so that the British brands have now been overtaken left and right by the competitors in that area. However, there is plenty of reason to be hopeful. For example, we already know that there will be electric versions of the Range Rover and Range Rover Sport. In 2025, these cars must be joined by new EVs from Jaguar, which will also be built ‘just’ in England. Jaguar will even become fully electric in that year, earlier than Land Rover. Exciting times!
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