Jaguar Land Rover has hailed the "strong demand" in its vehicles as it revealed sales figures for the final three months of 2022.
The manufacturing giant, which has UK factories in the North West and Midlands, confirmed its wholesale volumes were 79,591 vehicles for the period, its third quarter, a rise of 5.7% compared to the prior three months to September 30, 2022, and 15% compared to the same period in the prior year.
Compared to the prior quarter, wholesale volumes were higher in North America (17%), UK (13%) and overseas (10%) and lower in China (13%) and Europe (3%). JLR added that its sales in China were impacted by Covid-19.
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Jaguar Land Rover also said that the production ramp up of New Range Rover and New Range Rover Sport continued with 27,456 cars wholesaled in the quarter, up from 13,537 in Q2.
Retail sales for the third quarter were 84,827 cars, up 5.9% compared to the same quarter a year ago but 3.7% lower than from the prior quarter September 30, 2022, "reflecting timing between retails and wholesales".
JLR said its total order book, as of December 31, 2022, increased to 215,000 client orders, up around 10,000 orders from September 30, 2022.
Demand for the New Range Rover, New Range Rover Sport and Defender remain strong and represent 74% of the order book, the company added.
Jaguar Land Rover is expected to report unaudited results for the third quarter ending December 31, 2022 on January 25.
On a preliminary basis, JLR said that its free cash flow is likely to be over £400m positive in the quarter.
It also confirmed that it completed a renewal of its undrawn revolving credit facility with 23 banks at £1.45bn in December.
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