Sources say that the average transaction price of a Range Rover Sport is 'well over' £70,000Sales growth slows slightly, but earnings and investment in new models jump over last 12 months
Jaguar Land Rover’s rocketing sales performance slowed slightly over the last 12 months, according to the carmaker’s full-year results.
Between March 2014 and March 2015, the company sold 462,209 vehicles globally, which was up 27,898 units from the 434,311 it sold in 2013-14, a rise of a fraction under 5%. Sales growth in the previous 12-month period was 17%.
JLR’s overall earnings (EBITDA) was up to £4.13bn, a significant 18% rise year-on-year because the company sold more expensive models such as the Range Rover Sport and Jaguar F-Type.
The upshot was a pre-EBITDA profit margin of 18.9%, which is ahead of the 15.8% recorded by rivals Porsche in the last fiscal year.
Profits, however, rose by just £113m to £2.6bn, a figure JLR says was partly dragged down by the downward revaluation of the company’s foreign currency holdings as well as increasing sums being allocated to paying off previous investments in new models and factory equipment.
Meanwhile, JLR’s investment in new production equipment and new models reached a significant £3.15bn in the last financial year.
It’s thought that the new projects include further expansion of the Ingenium engine factory, investment in the Jaguar F-Pace SUV and Range Rover ‘Grand Evoque’ as well as the all-new Land Rover Defender model.
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