The British premium automaker said it had the best February ever in terms of retail sales, up 31 percent from a year earlier.
The record February retail sales report also follows the best January ever for Tata-owned Jaguar Land Rover. Last month, the British luxury automaker had retail sales of 37,494 vehicles, up 31 percent on February 2015, while the cumulative number for the first two months of 2016 rose to 83,510 cars, a 27 percent increase over the same period of the prior year. The company reported retail jumps in all regions, with 84 percent in the UK, 52 percent in Europe, 27 percent in North America, and 14 percent in China. Other overseas markets were also up by 13 percent year-on-year. “We started the year with a record January and have followed this up with another historic month of sales, thanks in large part to the performance of the UK and European markets and continued customer demand for the XE and Discovery Sport,” Andy Goss, Jaguar Land Rover Group Sales Operations Director said.
From the total number of retails, Land Rover accounted for 30,756 vehicles in the month, up 27 percent, while Jaguar had its best February performance in over a decade, delivering 6,738 models, a 50 percent boost, due to continued solid sales of the XE (2,639 units) and the all-new XF (2,444 units). For LR, best-sellers for the month were the Discovery Sport with 7,857 vehicles, the Range Rover Sport with 6,418 vehicles and the Range Rover with sales of 4,328 in the month.
Despite high numbers in the recent period, Jaguar Land Rover announced it would post lower fourth-quarter profit than a year earlier, like it did for the third one, for the full-year pretax figure to be halved compared to the 2.6 billion pounds (3.6 billion dollars) made in 2014-2015. The reasons behind this unexpected financial outcome are the slow China sales from last year, the explosions at the Tianjin port and the high costs triggered by the expansion of brand’s lineup and its facilities.