JLR sees sales rise in Q3, free cash flow over $485.5 million
Demand for the New Range Rover, New Range Rover Sport and Defender remains strong and represents 74 percent of the order book,” Jaguar Land Rover said.
Tata Motors-owned Jaguar Land Rover, on Monday, reported a 15 percent increase in wholesales to 79,591 units for the third quarter that ended December 31, 2022.
Retail sales for the third quarter stood at 84,827 units, up 5.9 percent compared to the same quarter a year ago, the company said in a regulatory filing.
Jaguar Land Rover (JLR) said it continues to see strong demand for its vehicles.
”As of December 31, 2022, the total order book increased to 2,15,000 client orders, up around 10,000 orders from September 30, 2022. Demand for the New Range Rover, New Range Rover Sport and Defender remains strong and represents 74 percent of the order book,” it added.
On a preliminary basis, free cash flow is likely to be over 400 million pounds positive in the quarter that ended December 31, 2022, JLR said.
”In December 2022, the company completed a renewal of its undrawn revolving credit facility with 23 banks at 1.45 billion pounds with the maturity date extended from March 2024 to April 2026,” it added.
(Edited by : Vivek Dubey)
First Published: Jan 9, 2023 6:35 PM IST
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