BUSINESS

Chip shortage: JLR gross sales dip 36% in Q4

Hit by semiconductor shortage, Jaguar Land Rover (JLR) on Friday acknowledged its retail gross sales declined by 36% to 79,008 items within the fourth quarter of 2021-22 fiscal as when compared with similar period final year. The Tata Motors-owned luxury automaker renowned that the retail gross sales for the three-month period continued to be constrained by the realm semiconductor shortage.

On the opposite hand, the corporate saw a unhurried development in chip present resulting in improved manufacturing and wholesale volumes when compared to the old quarter and this is expected to continue by the following fiscal year, it added.

Jaguar gross sales for the period below evaluation stood at 14,574 items, down 38 per cent from the year-within the past period.

Land Rover retail gross sales declined year-on-year by 36 per cent at 64,434 items.

Retail gross sales for the fiscal year ending March 31, 2022 had been 3,76,381 items, down 14 per cent as when compared to the fiscal year ending March 31, 2021, the automaker acknowledged.

No matter the impact of the semiconductor shortage on manufacturing and gross sales, the corporate continues to gaze stable quiz of for its products with world retail orders again environment new details within the fourth quarter, it added.

As on March 31, 2022, the total inform e book has grown to over 1,68,000 items, up around 14,000 orders from December 31, 2021 period. Demand for the new Vary Rover and Contemporary Defender are stable with over 45,500 orders and 40,000 orders respectively, JLR acknowledged. -PTI

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