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Jaguar Land Rover, the renowned luxury brand owned by Tata Motors, said Thursday it expects free cash flow of nearly $1 billion for the fourth quarter.
An encouraging forecast after a period of crisis. Jaguar Land Rover (JLR), the British luxury carmaker owned by Tata Motors, is forecasting free cash flow of more than 800 million pounds, or about $1 billion, for the fourth quarter.
The forecast is attributed to a 24 percent increase in wholesale volumes, resulting from the easing of supply constraints on microchips and other components.
India’s Tata Motors Group, which acquired the British carmaker in 2008, had originally set a free cash flow target of £1 billion ($1.2 billion) for the fiscal year.
Sales increase
Jaguar Land Rover reported a 24% increase in wholesale volumes, excluding its joint venture in China, and a 30% increase in retail sales in the fourth quarter. These were driven by strong demand for the Range Rover, Range Rover Sport and Defender models.
China, which is JLR’s largest market, saw a 17% increase in wholesale volumes compared to a 13% decline in the previous quarter.
JLR said its total order backlog stood at 200,000 units at the end of last March, down 15,000 units from December 31.
JLR’s performance is critical to Tata Motors, as it accounts for nearly 60% of the group’s operating revenue.
Jaguar at rock bottom
The brand was dropped last November by its French boss Thierry Bolloré and has been struggling to get back on track for the past few years. Jaguar Cars, abandoned in favor of Land Rover, is at its worst. The arrival at the helm of Rawdon Glover in March aims to turn around sales.
According to JATO Dynamics, Jaguar Cars sold only 61,700 vehicles worldwide last year, down 29% from 86,300 in 2021. The brand is at its lowest level since 2012, a dark period when it had yet to gain a foothold in the must-have premium SUV market. Last quarter, Tata Motors finally returned to profit for the first time in two years.
JLR expects to report its fourth-quarter results in May.
Read also >Luxury carmakers welcome easing of ban on internal combustion engines after 2035
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Jaguar Land Rover, the renowned luxury brand owned by Tata Motors, said Thursday it expects free cash flow of nearly $1 billion for the fourth quarter.
An encouraging forecast after a period of crisis. Jaguar Land Rover (JLR), the British luxury carmaker owned by Tata Motors, is forecasting free cash flow of more than 800 million pounds, or about $1 billion, for the fourth quarter.
The forecast is attributed to a 24 percent increase in wholesale volumes, resulting from the easing of supply constraints on microchips and other components.
India’s Tata Motors Group, which acquired the British carmaker in 2008, had originally set a free cash flow target of £1 billion ($1.2 billion) for the fiscal year.
Sales increase
Jaguar Land Rover reported a 24% increase in wholesale volumes, excluding its joint venture in China, and a 30% increase in retail sales in the fourth quarter. These were driven by strong demand for the Range Rover, Range Rover Sport and Defender models.
China, which is JLR’s largest market, saw a 17% increase in wholesale volumes compared to a 13% decline in the previous quarter.
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Jaguar Land Rover, the renowned luxury brand owned by Tata Motors, said Thursday it expects free cash flow of nearly $1 billion for the fourth quarter.
An encouraging forecast after a period of crisis. Jaguar Land Rover (JLR), the British luxury carmaker owned by Tata Motors, is forecasting free cash flow of more than 800 million pounds, or about $1 billion, for the fourth quarter.
The forecast is attributed to a 24 percent increase in wholesale volumes, resulting from the easing of supply constraints on microchips and other components.
India’s Tata Motors Group, which acquired the British carmaker in 2008, had originally set a free cash flow target of £1 billion ($1.2 billion) for the fiscal year.
Sales increase
Jaguar Land Rover reported a 24% increase in wholesale volumes, excluding its joint venture in China, and a 30% increase in retail sales in the fourth quarter. These were driven by strong demand for the Range Rover, Range Rover Sport and Defender models.
China, which is JLR’s largest market, saw a 17% increase in wholesale volumes compared to a 13% decline in the previous quarter.
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