Significant contribution to the domestic market, Jaguar Land Rover's financial report, revenue and profitability, etc.

China Automotive News Network, February 1st. Recently, Jaguar Land Rover announced the performance of the third quarter of the 2020/21 fiscal year (October to December 2020): achieving key indicators such as sales volume, revenue, profit and cash flow The overall improvement.

According to China Automotive News, from October to December 2020, Jaguar Land Rover’s global sales reached 128,469 units in the third fiscal quarter. The performance of the Chinese market was particularly impressive, with a year-on-year increase of 19.1%. The sales in China in December reached nearly 13,000 units, setting a new monthly high in the past three years, and the profitability of dealers has increased significantly.

Thanks to the global growth of Jaguar Land Rover in the third quarter and the significant performance of the Chinese market, revenue reached 6 billion pounds, an increase of 1.6 billion pounds over the previous quarter, and a pre-tax profit of 439 million pounds. The month-on-month increase was 374 million pounds and the year-on-year increase was 121 million pounds, which significantly increased the pre-interest and tax margin (EBIT) to 6.7%.

In addition, Jaguar Land Rover’s cash flow for the quarter reached 562 million pounds, a record high in the same period in history.

For this financial report, Jaguar Land Rover Global Chief Financial Officer Adrian Mardell said: 'This reflects our business focus on sustainable growth and cost reduction and efficiency enhancement. Although some markets are still affected by the epidemic, However, sales in the Chinese market have continued to increase year-on-year, and sales of the new Land Rover Defender models have also climbed.'

At the global level, the orderly launch of new products and the electrification strategy have become one of the important factors in the improvement of the earnings performance of this quarter, and it has also injected confidence into the continuous progress of Jaguar Land Rover. Among them, the new Land Rover Defender has already harvested 16,286 units of sales since its launch, a 66% quarter-on-quarter increase. At the same time, among the 13 product series currently on sale by Jaguar Land Rover, there are 8 plug-in hybrid models, 11 models equipped with light hybrid technology and 1 pure electric SUV.

Jaguar Land Rover Global CEO Thierry Bolloré said: “This is my first quarter as Jaguar Land Rover Global CEO. The employees have made outstanding contributions to overcoming many challenges this year. Looking to the future, uncertainties still exist, including the superimposed impact of the epidemic on the global economy, changes in the trade environment between the UK and the EU, and the changes that the entire automotive industry is undergoing. In such an environment, Jaguar Land Rover will also realize an exciting future with a brand-new plan and continue to move forward.'

Previously, Jaguar Land Rover stated that the tariff policy brought about by the Brexit trade agreement reached by the United Kingdom and the European Union in December last year is favorable, and it can avoid the risk of tariff collection on complete vehicles and parts at this stage; and for the new crown The approval of the vaccine in the UK is equally encouraging. At present, all Jaguar Land Rover global factories and most of its dealers are in normal operation, and are proceeding in an orderly manner through online and offline digital solutions.

Jaguar Land Rover expects that in the fourth quarter it will continue to achieve a substantial pre-interest and tax margin (EBIT) and sufficient free cash flow, and is confident of achieving a sustained and healthy free cash flow situation in the next few years.