Jaguar Land Rover’s world car gross sales fell 4.9 p.c to 88,121 within the quarter ended Sept 30 in contrast with the identical interval final 12 months, after the corporate continued to be affected by semiconductor provide issues.
In a press release JLR stated the decrease gross sales resulted from a “decrease than anticipated provide of specialised chips from one provider which couldn’t be readily re-sourced within the quarter.”
The automaker’s monetary efficiency was “mitigated partially by additional prioritization of manufacturing to the very best margin merchandise,” it stated, with out releasing figures.
JLR stated it is going to report detailed quarterly funds within the first half of November. The corporate indicated that it “expects free money circulate to be close to break-even regardless of the lower-than-expected wholesale volumes.”
The automaker added that it anticipated constructive free cash-flow within the second half of its fiscal 12 months, which ends March 31 2023, pushed by an “enchancment in wholesale volumes.”
Land Rover stays JLR’s top-selling model. Throughout the quarter Land Rover gross sales, together with Vary Rover fashions, fell 3.6 p.c to 70,781. Jaguar gross sales had been 17,340, down 9.9 p.c.
JLR’s give attention to increased margin fashions within the quarter meant that the Land Rover Defender giant SUV was the corporate’s best-selling mannequin for the quarter with gross sales of 16,892, beating the Vary Rover Evoque compact SUV in second with gross sales of 16,255.
The corporate’s highest priced mannequin, the brand new Vary Rover giant SUV, was third with gross sales of 10,717.
China was the corporate’s greatest market within the quarter with retail gross sales of 25,518, which accounted for 29 p.c of the model’s complete retail gross sales.
JLR has suffered a string of quarterly losses as provide chain points and issues ramping up manufacturing of its worthwhile Vary Rover and Vary Rover Sport fashions lower income and elevated prices.