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An encouraging forecast after a period of crisis. Jaguar Land Rover (JLR)<\/strong>, the British luxury carmaker owned by Tata Motors<\/strong>, is forecasting free cash flow of more than 800 million pounds, or about $1 billion, for the fourth quarter.<\/strong><\/p>\n <\/p>\n The forecast is attributed to a 24 percent<\/strong> increase in wholesale volumes, resulting from the easing of supply constraints <\/strong>on microchips and other components.<\/p>\n <\/p>\n India’s Tata Motors Group, which acquired the British carmaker in 2008<\/strong>, had originally set a free cash flow target of \u00a31 billion ($1.2 billion)<\/strong> for the fiscal year.<\/p>\n <\/p>\n <\/p>\n Jaguar Land Rover reported a 24%<\/strong> increase in wholesale volumes, excluding its joint venture in China, and a 30%<\/strong> increase in retail sales in the fourth quarter. These were driven by strong demand for the Range Rover, Range Rover Sport and Defender models.<\/p>\n <\/p>\n China<\/strong>, which is JLR’s largest market, saw a 17%<\/strong> increase in wholesale volumes compared to a 13%<\/strong> decline in the previous quarter.<\/p>\n <\/p>\n JLR said its total order backlog stood at 200,000 units<\/strong> at the end of last March, down 15,000 units<\/strong> from December 31.<\/p>\n <\/p>\n JLR’s performance is critical to Tata Motors, as it accounts for nearly 60%<\/strong> of the group’s operating revenue.<\/p>\n <\/p>\n <\/p>\n The brand was dropped last November by its French boss Thierry Bollor\u00e9<\/strong> and has been struggling to get back on track for the past few years. Jaguar Cars<\/strong>, abandoned in favor of Land Rover, is at its worst. The arrival at the helm of Rawdon Glover<\/strong> in March aims to turn around sales.<\/p>\n <\/p>\n According to JATO Dynamics, Jaguar Cars sold only 61,700 vehicles<\/strong> worldwide last year, down 29%<\/strong> 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.<\/p>\n <\/p>\n JLR expects to report its fourth-quarter results in May.<\/strong><\/p>\n <\/p>\n Read also >Luxury carmakers welcome easing of ban on internal combustion engines after 2035<\/a><\/p>\nSales increase<\/h2>\n
Jaguar at rock bottom<\/h2>\n