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Jaguar Land Rover releases Q1 results for fiscal 2020/21

From:Internet Info Agency 2020-08-03 14:32:03

On July 31, Jaguar Land Rover announced its performance for the first quarter of the 2020/21 fiscal year (April to June 2020). Due to the impact of the shutdown and production in major markets around the world, Jaguar Land Rover’s global revenue for the fiscal quarter 2.9 billion pounds. It is worth mentioning that from April to June this year, Jaguar Land Rover's sales in China continued the steady upward trend since the end of the first quarter.

According to the report, Jaguar Land Rover’s cumulative sales in this fiscal quarter reached 74,067 units, of which China and North America markets performed particularly well. In terms of specific sales, the sales of Jaguar and Land Rover in China from April to June have achieved four consecutive months of month-on-month growth. Sales in June increased by 10% compared to May.

Land Rover Range Rover and Range Rover Sport’s sales in June increased by 108% and 27% year-on-year respectively; Range Rover Star Pulse and Land Rover Discovery Sport both achieved four consecutive months of growth. The new Land Rover Defender has received a total of 30,000 orders. XFL's quarterly sales increased by 22% year-on-year. XEL and E-PACE have maintained growth for 4 consecutive months.

It is reported that Jaguar Land Rover has fully resumed work and production in its factories around the world, and the resumption rate of dealers has reached 98%. In addition, Jaguar Land Rover has also achieved good results in reducing costs. The global cost reduction and efficiency increase project, Project Charge +, in the first fiscal quarter has completed 80% of the original target for the fiscal year, reaching 1.2 billion pounds. The operating performance of the company has improved, and the cost reduction and efficiency increase target for the full fiscal year has been raised to 2.5 billion pounds.

At the same time, as of the end of the fiscal quarter, Jaguar Land Rover’s global current assets reached 4.7 billion pounds, including 2.75 billion pounds in cash and short-term investments, and 1.9 billion pounds of undrawn credit lines.

Editor:Hou Minghao