Jaguar Land Rover (JLR) India has achieved a remarkable milestone with its highest-ever Q1 sales performance, experiencing a significant YoY growth of 102%. In the first quarter of FY24, the luxury carmaker successfully retailed a total of 1,048 units. Further, indicating a strong increase from the previous year. Unquestionably, the exceptional growth can be attributed to the popularity of its Range Rover and Defender models which collectively contributed 78% to the current order book. This remarkable achievement projects the brand’s appeal and dominance in the Indian luxury car market.
JLR Order Book Growth
Notably, JLR India’s order book for Q1 FY24 has witnessed an impressive 88% increase compared to the same period last year. Because of the successful launches of the New Range Rover lineup in the latter half of FY23. Coupled with the highly favorable response to the Defender, played a vital role in driving this surge. Furthermore, the current order book, which now covers more than six months of sales, has been consistently growing month-on-month, positioning JLR India for continued success in the future.
Upcoming JLR Initiatives
Looking ahead, JLR India has exciting product initiatives in the pipeline. The highly anticipated release of the enhanced Range Rover Velar has already commenced bookings, creating buzz among potential customers. Besides, these upcoming launches are set to further strengthen JLR’s market presence.
Growing Equity: JLR Certified Pre-Owned Business
The new car sales, the growth in JLR’s certified pre-owned business during the first quarter of FY24 is another testament to the brand’s increasing equity in the Indian market. Simultaneously, witnessing an impressive YoY growth of 137%, this segment reflects the rising demand and trust placed in JLR’s luxury vehicles by Indian consumers who prioritize quality and performance.
Corporate Identity and House of Brands
Recently, JLR India unveiled its new corporate identity and embraced the House of Brands approach. By highlighting the unique DNA of each brand within the company, including Range Rover, Defender, Discovery, and Jaguar. JLR aims to bolster its market presence and propel its long-term vision forward.
Conclusion
JLR India’s outstanding Q1 performance with a record growth of 102% highlights the brand’s enduring appeal and strong market position. With a robust order book, a thriving certified pre-owned business, and a lineup of exciting product initiatives. Lastly, JLR India is poised for a promising and successful journey ahead. As it continues to deliver high-quality luxury vehicles, blending modern luxury with all-terrain capabilities. JLR is set to maintain its leadership in the Indian luxury car market.