Jaguar Land Rover’s revenue has surged over the last quarter driven by the ramped up production of Range Rover and Range Rover Sport models.
The luxury car maker posted a revenue of £5.3bn – up 36 per cent on last year’s levels and 20 per cent higher than last quarter.
Order book increase to 205,000 units, 5,000 more bookings than in June, as the marque’s three most profitable models – New Range Rover, New Range Rover Sport and Defender – represented 70 per cent.
Global sales – up by 11.8 per cent on the previous quarter – were higher in China and North America, slumping 7 and 10 per cent in the UK and Europe respectively.
“Demand for our most profitable and desired vehicles remains strong and we expect to continue to improve our performance in the second half of the year, as new agreements with semiconductor partners take effect, enabling us to build and deliver more vehicles to our clients,” said chief executive Thierry Bollore.
Jaguar recently announced late last month a partnership with US manufacturer Wolfspeed to secure the supply of semiconductors for the electrification of its vehicles.
Despite ongoing semiconductor constraints, Jaguar managed to shrink its losses by 42 per cent to £173m.