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JLR's global sales exceed 110k units from July to September

From:Internet Info Agency 2020-10-28 16:49:59

On October 28, British luxury car company Jaguar Land Rover announced its performance. It is reported that from July to September 2020, Jaguar Land Rover’s cumulative global sales reached 113,569 units, an increase of 53.3% compared to the previous quarter. Among them, the Chinese market grew by 14.6% month-on-month. As the most important product of Jaguar Land Rover this year, the new Land Rover Defender sold 4,508 units worldwide in September.

With the resumption of work and production in the global production base and distribution network, Jaguar Land Rover achieved 4.4 billion pounds in revenue this fiscal quarter, and still maintained sufficient cash flow of 463 million pounds after spending 531 million pounds. In the second fiscal quarter, it brought 600 million pounds of cash savings. So far this fiscal year, the optimization effect has reached 1.8 billion pounds. Jaguar Land Rover is steadily moving towards the goal of reducing costs and increasing efficiency by 2.5 billion pounds for the entire fiscal year.

In the second fiscal quarter, EBIT was 0.3% and EBITDA was 11.1%. As of September 30, Jaguar Land Rover's global current assets reached 5 billion pounds, including over 3 billion pounds in cash and short-term investments, and 1.9 billion pounds of undrawn credit lines.

Adrian Mardell, Chief Financial Officer of Jaguar Land Rover, said: "Compared with the previous quarter, we are very pleased to see a significant increase in sales, profitability and cash flow. Among them, the year-on-year growth in sales in the Chinese market and the new Land Rover Defender The rapid increase in sales worldwide is very encouraging. With the current good development trend, we are confident that Jaguar Land Rover can achieve better performance in the second half of the fiscal year as the overall market recovers."

In terms of products, Jaguar Land Rover also launched the Land Rover Defender 90, the new Jaguar F-PACE and the 2021 Land Rover Range Rover Star, Jaguar XF and Jaguar XE. At the same time, Jaguar Land Rover’s global electrification strategy has 7 plug-in hybrid models, 9 models equipped with light hybrid technology, and 1 pure electric model Jaguar I-PACE. Three new models will be launched this fiscal year.

Jaguar Land Rover Global CEO Thierry Bolloré said: “The epidemic has had a huge impact on the global automotive industry, but we still have a solid foundation to ensure long-term sustainable profitability. Over the past few months, I have worked for Jaguar Land Rover. Inspired by our brand heritage and system capabilities, this will also ensure that we can seize opportunities in the rapid development of the industry in the future. I am confident that on this basis, with strong product strategy and financial management, Jaguar Land Rover will face the challenge directly, Go forward bravely."

Editor:Shi Rui