JLR Q4 wholesale volumes up 61.1% QoQ

JLR today reports its wholesale and retail sales for the fourth quarter of FY26 (three-months to 31 March 2026) and the full year ended 31 March 2026. As anticipated and previously indicated, fourth quarter volumes rose significantly versus the prior quarter, as operations recovered and production returned to normal levels following the cyber incident. Full year volumes were impacted by US tariffs, China market challenges, planned wind down of legacy Jaguar models ahead of new Jaguar launch and production stoppages following the cyber incident.

Wholesale volumes for the fourth quarter were 95,300 units (excluding the Chery Jaguar Land Rover China (‘CJLR’) JV), down 14.5% year-on-year, reflecting ongoing challenges in certain markets and the planned wind down of legacy Jaguar models ahead of new Jaguar launch. Q4 wholesale volumes increased 61.1% compared to Q3 FY26, reflecting a return to normal production levels following the cyber incident. Compared to the prior year, wholesale volumes for the fourth quarter were down in all markets, aside from Europe, which was up 4.1%. Volumes were lower in the UK (-23.1%), North America (-19.0%), China (-29.8%), Overseas (-7.9%) and MENA (-2.4%). Wholesale volumes for FY26 were 307,900* units, down 23.2% versus FY25.

The overall mix of Range Rover, Range Rover Sport and Defender models was 77.1% of total wholesale volumes in Q4 FY26, up from 66.3% in Q4 FY25 and up from 74.3% in the prior quarter. For the full year, the mix of the same models was 76.5%, up from 67.8% the previous year.

Retail sales for the fourth quarter of 92,700 units (including CJLR) were down 14.3% year on-year but up 16.2% compared to Q3 FY26. Compared to the prior year, retail volumes for the fourth quarter were down in all markets, with the UK down 2.9%, North America down 13.8%, Europe down 6.4%, China down 34.6%, Overseas down 16.2% and MENA down 29.6%. Retail volumes for FY26 were 352,300 units, down 17.8% versus FY25.

JLR will report its fourth quarter and full year results for the period ended 31 March 2026 in May 2026.