Range Rover Electric waiting list hits 16,000 as JLR profits SOAR

JLR – formerly Jaguar Land Rover – profits and wholesales hit record levels as the new Range Rover Electric waiting list hits 16,000.

All the Range Rover news of late has centred around how uninsurable Range Rovers have become in the UK, especially in urban areas, which is impacting used Range Rover prices.

But the insurance issues – mainly a UK issue – aren’t impacting new car sales, with JLR posting big profits for their last quarter.

In the final three months of 2023, JLR posted its biggest profit in six years with profits before tax of £627 million – the highest profit in a quarter since 2017 – on a turnover of £7.4 billion and has also hit a nine-month record with revenue of £21.1 billion and profit of £1.4 billion.

The record figures are thanks to wholesales of 101,000 units driven by record numbers, as you’d expect, for Range Rover, Range Rover Sport, Range Rover Velar and Range Rover Evoque, but also record numbers for the Range Rover SV – at an average of £202,000 each – with 3,637 in the year to date, almost double the previous full year.

JLR’s Adrian Mardell said:

Sales of our modern luxury vehicles hit new records in the quarter, and we are excited about the strong client interest for our soon to launch Range Rover Electric.

I must attribute these results to our talented and dedicated people, who work relentlessly to bring our exceptional modern luxury cars to the market.

Things are looking good for JLR after a difficult time, and with a 16,000 waiting list for the new Range Rover Electric it does look like the EV future may be rosey too.