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JLR sales volume declined 1% yoy and 6% mom as 23% yoy declined in Jaguar sales volume
flattened the 8% yoy growth in LR volumes. Surprisingly, LR monthly sales volume registered a
mom dip. With Evoque and new XF launches ahead, we believe growth to come back on the
track in coming months.
The JLR sales volume for July came in at 19,119 units, down 1% yoy and 6% mom (11%
below our forecasts), primarily due to decline in Jaguar sales volume. On YTD basis, JLR
sales volumes are up 6% yoy to 81,209 units.
Jaguar sales volumes for the month were at 4,372 units, down 23% yoy but up 8% mom. On
YTD basis, the volumes were down 26% to 15,715 units.
The launch of new XF model in coming months should provide breather to the yoy declining
trend for Jaguar brand.
Land Rover sales volumes were at 14,747, up 8% yoy but down 10% mom. The mom decline
was surprising considering the recent strong run in the business. On YTD basis, the Land
Rover sales volumes were up 18% yoy to 65,494 units.
Despite an unexpected mom decline in the Land Rover volumes, given the advance order
book position of Evoque (about 18,000 as at June end), the Land Rover should be the one
driving growth for JLR.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
JLR sales volume declined 1% yoy and 6% mom as 23% yoy declined in Jaguar sales volume
flattened the 8% yoy growth in LR volumes. Surprisingly, LR monthly sales volume registered a
mom dip. With Evoque and new XF launches ahead, we believe growth to come back on the
track in coming months.
The JLR sales volume for July came in at 19,119 units, down 1% yoy and 6% mom (11%
below our forecasts), primarily due to decline in Jaguar sales volume. On YTD basis, JLR
sales volumes are up 6% yoy to 81,209 units.
Jaguar sales volumes for the month were at 4,372 units, down 23% yoy but up 8% mom. On
YTD basis, the volumes were down 26% to 15,715 units.
The launch of new XF model in coming months should provide breather to the yoy declining
trend for Jaguar brand.
Land Rover sales volumes were at 14,747, up 8% yoy but down 10% mom. The mom decline
was surprising considering the recent strong run in the business. On YTD basis, the Land
Rover sales volumes were up 18% yoy to 65,494 units.
Despite an unexpected mom decline in the Land Rover volumes, given the advance order
book position of Evoque (about 18,000 as at June end), the Land Rover should be the one
driving growth for JLR.
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