LONDON — Jaguar Land Rover gross sales dipped 1.2 % in 2021 on lowered deliveries of Jaguar vehicles and a scarcity of semiconductors.
JLR offered 420,856 automobiles final yr, with the Land Rover model posting 334,586, up 3.4 %, and the Jaguar marque down 16 % to 86,270, the automaker stated in a press release.
Semiconductor shortages hit the corporate laborious within the remaining quarter of the yr with gross sales down 14 % to 80,126, it stated.
JLR struggled to fulfil orders final yr, particularly for the most recent fashions. It stated that again orders for all fashions have been 154,000, with 36,000 for the Defender off-roader and 30,000 for the latest-generation Vary Rover luxurious SUV.
The order determine is up from 128,000 the model quoted in November.
JLR has been specializing in higher-margin fashions for the chips out there, which has damage gross sales of the Jaguar model.
“We goal [chips] to the appropriate automotive,” chief monetary officer Adrian Mardell instructed traders on a name in November. He stated that common gross automobile income was “a lot larger” within the third calendar quarter the earlier quarters for that motive.
Jaguar Land Rover swung to a lack of 302 million kilos ($413 million) within the quarter ending Sept. 30 as chip provide constraints prevented the automaker from fulfilling buyer orders.
JLR stated within the assertion it anticipated 150 million kilos of constructive free money stream for the quarter ending December 31 however didn’t say whether or not it could put up a revenue for the quarter.
In November JLR predicted constructive revenue margin and money stream for the second half of its fiscal yr ending March 31 however cautioned that was earlier than restructuring prices.
JLR is cautiously optimistic chip provide will enhance in 2022.
“The chip scarcity stays dynamic and tough to forecast, nevertheless, we anticipate provide to proceed to enhance in This fall of the fiscal yr ending 31 March,” Lennard Hoornik, chief industrial officer, stated within the assertion.