Mumbai, January 11, 2024 – JLR India has reported a phenomenal streak of success, marking three consecutive quarters of record-breaking sales. The company has achieved its best nine-month retail sales ever, with 3,582 units sold, registering an impressive year-on-year (YoY) growth of 93% as of 31 December 2023.
The growth has been largely driven by the outstanding performance of models such as the Defender and the Range Rover. The Defender has seen a remarkable 150% increase in sales YoY, while the Range Rover has exceeded expectations with a staggering 250% growth in the same period. These models have been pivotal in contributing to over 75% of the current order book, which has grown by 92% compared to the same period last year.
In the third quarter of the financial year 2024 (Q3 FY24), JLR India continued its strong momentum, achieving a 74% YoY growth. This period saw retail sales of 1,226 units, with the 24MY Range Rover Velar standing out as the top performer, showcasing an exceptional 183% increase in sales YoY.
Mr. Rajan Amba, Managing Director of JLR India, commented on the success, stating, “Over the past nine months, JLR’s progress in India has been remarkable, with each quarter displaying nearly a 100% surge in year-on-year growth. The consistent increase in our order bank and the continuous intake of orders reflect a robust demand and signal a promising future for JLR in India. The anticipation for the Range Rover BEV and our upcoming launches this quarter indicate that we are on track to maintain our extraordinary growth trajectory in the Indian market.”
As of the end of Q3 FY24, JLR India’s order book remains robust, with a YoY growth of 92%. This strong order book covers over eight months of sales and is witnessing a consistent month-on-month increase. Additionally, JLR’s certified pre-owned business has also seen significant growth, with a 74% increase YTD compared to the same period last year. This growth not only reflects the rising demand but also underscores the strong brand equity of JLR in India.