JLR sold more than 400,000 cars in the last year thanks to Range Rover and Land Rover Defender sales

Jaguar Land Rover sold over 400,000 cars in the last year, with revenues at £29bn and profits of £2.2bn.

Issues with car insurance aside – which JLR is addressing with subsidies and increased security – things are going swimmingly well for JLR, with order books full and sales and profits rising.

Results for the full year to March 2024 saw JLR generate £2.2bn in profits on £29bn in revenue and an EBIT of 8.4%. None too shoddy.

Total number sold in the year was 401,303, with the Land Rover Defender accounting for 114,646, Range Rover 66,199 and Range Rover Sport 63,598, all big increases on a year ago and some two-thirds of JLR sales.

Sales of the Discovery were up too with 17k sold, but all other Land Rover and Range Rover models – Evoque, Discovery Sport and Velar – saw numbers fall as JLR focussed on its big money spinners.

Surprisingly, Jaguar sales were also up for the year to 66,866 with big winners the E-Pace with sales up 45.2% and XF by 23.9%. Jaguar’s only EV – the I-Pace, saw sales drop by 20.2%.

Despite the growth in sales, JLR is still sitting on an order book of 133,00 – 76% of which are for the Range Rover, Range Rover Sport and Land Rover Defender.

Adrian Mardell, JLR CEO, said:

This has been a year of great strategic progress at JLR and I would like to thank our clients, our people, our suppliers and partners for their role in our success.

We have delivered a record financial performance for the company, generating free cashflow of £2.3 billion, enabling us to reduce net debt to £0.7 billion.

The foundation of this performance was the sustained global demand for our modern luxury vehicles, led by our Range Rover and Defender brands, underpinned by a consistent focus on operational improvement.