JLR FY18 retail sales up 1.7% to 6,14,309 units
New Delhi: Tata Motors-owned Jaguar Land Rover (JLR) on Monday reported 1.7 per cent increase in its retail sales at 6,14,309 units for the fiscal year ended March 2018.
The increase was driven by new models including the Range Rover Velar and the new Land Rover Discovery, the company said in a statement.
Retail sales for March were at 83,732 units and 1,72,709 units for the fourth quarter, down 7.8 per cent and 3.8 per cent, respectively, primarily due to weak sales in UK and Europe.
Sales for the financial year were up year-on-year in China (19.9 per cent), North America (4.7 per cent) and in overseas markets (3.4 per cent).
However, retail sales in the UK and Europe were down by 12.8 per cent and 5.3 per cent, respectively, primarily driven by continuing uncertainty over diesel, JLR said.
"Weaker market conditions in the UK and Europe, driven by lack of consumer confidence and lower demand for diesels, are impacting our growth," JLR Chief Commercial Officer Felix Brautigam said.
He further said, even against this backdrop, the company closed the financial year with record retail sales.
While Jaguar retail sales were up 1 per cent to 1,74,560 units in the financial year, Land Rover retailed 4,39,749 units, up 2 per cent compared to the last financial year.