Jaguar Land Rover has reported increased wholesale volume for the third quarter of fiscal 2023, reflecting a gradual improvement in chip shipments.
Wholesale volume increased 5.7% quarter-on-quarter to 79,591 units (excluding the Chery Jaguar Land Rover China joint venture) and 15% year-on-year.
Compared to the second quarter, wholesale volumes were higher in North America (+17%), the UK (+13%) and overseas (+10%) and lower in China (-13%) and Europe (-3%).
Volume in China was impacted by COVID.
Production ramp-up of the new Range Rover and Sport ranges continued
27,456 units were wholesale sold in the quarter versus 13,537 in the second quarter.
Retail sales for the third quarter totaled 84,827 units, up 5.9% from the same quarter last year and down 3.7% sequentially
Timing between retail and wholesale.
As of December 31, 2022, the total backlog was 215,000 units, an increase of approximately 10,000 orders from September 30, 2022. Demand for Range Rover, Sport and Defender
remained strong and account for 74% of the order book.