Jaguar Land Rover has published a performance report for Q4 2022 (or Q3 2023 in fiscal year terms). According to the papers, the company received a gross profit of £265,000 (nearly 330,000 USD) before taxes.
The last time JLR reported a profitable quarter was before the semiconductor shortage began. It also lost as much as £9,000,000 over the same period last year.
The new Range Rover and Range Rover Sport saved the situation, with the company shipping 27,000 units to the dealership in three months, 14,000 units more than in the preceding quarter. Overall, the dealerships have so far received around 80,000 Range Rovers, 15% more year-to-year.
JLR issued a statement saying it hoped the trend would continue. The company has registered 95,000 pre-orders within the period for a total of 215,000 pre-orders – a record high for the company. Over 74% of these orders were placed for the most profitable cars – the Range Rover duo mentioned above, plus the Defender.
As for the Jaguar brand, the company said new all-electric vehicles would appear under its badge in a few years’ time. These models will be all-new and assembled at the same factory where the all-electric Range Rover will be made.
