Jaguar Land Rover’s total revenue for fiscal year 2021／22 reached 18.30 billion pounds, continuing to drive to reinvent its future strategy

On May 13, Jaguar Land Rover announced the fourth fiscal quarter of the 2021/22 fiscal year (January-March 2022). Data show that this fiscal quarter Jaguar Land Rover revenue 4.80 billion pounds, EBIT margin of 2%, single quarter cash flow reached 340 million pounds. Jaguar Land Rover’s total revenue for the fiscal year reached 18.30 billion pounds, current assets reached 6.40 billion pounds, including 4.40 billion pounds of cash and short-term investments, and 2 billion pounds of undrawn credit lines.

Jaguar Land Rover sold a total of 376,381 vehicles this fiscal year, and Jaguar Land Rover’s global order volume continued to rise this quarter, setting a new record with more than 125,000. As of March 31, the total global order volume has reached 168,000 vehicles.

JLR believes that while there are still uncertainties in various markets, the global chip supply problem is expected to improve significantly. The company expects to achieve a 1 billion pound cash flow performance and a 5% EBIT margin in fiscal year 2022/23. By fiscal year 2026, JLR will also achieve the EBIT margin target of more than 10% set by the "Reinventing the Future" strategy.

Thierry Bolloré, Jaguar Land Rover’s global chief executive, said: "Global chip supply and other challenging factors have created a bumpy global environment. But I am still encouraged by continued strong global consumer demand for Jaguar and Land Rover models and our record-breaking orders. We are also actively driving the’reshaping the future ‘strategy and believe that the upcoming next generation of Jaguar and Land Rover electrified models will also be very exciting."

China becomes "reshaping the future" accelerator

The Chinese market remains one of Jaguar Land Rover’s most important regional markets in the world. In the past year, with the launch of a series of blockbuster products in China, the performance of the Chinese market has been commendable. In 2021, Jaguar Land Rover’s cumulative sales in China were 103,888 vehicles, an increase of 9% year-on-year. Among them, blockbuster models such as Range Rover and Defender helped the Land Rover brand grow by 12% year-on-year. The new Jaguar XFL launched in April last year increased by 28% year-on-year, and Jaguar F-TYPE sales increased by 82% year-on-year.

2021/22 fiscal year, Jaguar Land Rover China not only contributed more than a quarter of global sales, but also more than 80% of the dealer group in China achieved profitability.

"In 2021, we are still facing many uncertainties and challenges around the world. Against this backdrop, we are able to achieve this achievement thanks to the hard work and dedication of the entire Jaguar Land Rover China system and all our dealer partners," said Pan Qing, global director and president and chief executive of Jaguar Land Rover China.

In Jaguar Land Rover’s electrification transformation, the Chinese market will play a more important role.

In 2021, Jaguar Land Rover officially launched the "Reinventing the Future" global strategy, announcing a comprehensive transition to electrification, proposing sustainable development as the cornerstone, and empowering design to interpret the vision and strategic layout of the future development of new modern luxury.

According to the strategic plan, Jaguar Land Rover will continue to invest about 2.50 billion pounds per year, focusing on the research and development of electrification technology, the development of vehicle interconnection services to enhance the car experience, and big data technology, so as to further enhance and optimize the complete ecosystem of customers using vehicles.

At present, around the strategy, Jaguar Land Rover has created more than 1.50 billion pounds of value, which is reflected in the digital operation of enterprises, market performance, cost reduction and efficiency projects, which will also become an important initiative for the company in the next few years.

"With the support of the world’s most resilient, proven, advanced and dynamic supplier system, the Chinese market will surely become the guarantee and accelerator for JLR’s global strategy of’reshaping the future ‘," said Pan Qing.

In 2021, Jaguar Land Rover has already offered a variety of electrified products in the Chinese market. At present, all models of the Land Rover brand are equipped with different degrees of electrification options.

According to the plan, Jaguar Land Rover will continue to strengthen comprehensive collaboration in the fields of technology, innovation, research and development, and supply chain, continue to accelerate the electrification layout, drive industrial transformation, and create a more suitable electric luxury car brand and product lineup for China with a more open and forward-looking vision. It will also comprehensively build a Chinese user-centric operation model, industrial ecosystem, and digital capability center.

In the 2021 J.D. Power China Automotive After-sales Services Satisfaction Study SM (CSI), the Land Rover brand ranked second in the luxury car segment. So far, Jaguar Land Rover has ranked first in the after-sales services satisfaction study for three consecutive years.

Pan Qing said: "For 2022 – Jaguar Land Rover’s twelfth year in China, we are full of expectations. With the blessing of the new generation of Land Rover Range Rover and other products, we will continue to empower with design, practice the belief of’in China, for China, in China, for the world ‘, and bring new modern luxury products and respectful service experience to the majority of Chinese consumers!"

The Sustainable Development Goals underpin the strategy of "reshaping the future"

In March this year, Jaguar Land Rover announced its corporate sustainability goals: By 2030, Jaguar Land Rover has committed to reducing greenhouse gas emissions from vehicle manufacturing and operation by 46% compared to 2019. In addition, the company is also committed to reducing the average carbon emissions of a single vehicle by 54%, including a 60% reduction in carbon emissions during the use of the model.

In late 2021, Jaguar Land Rover, as a leading automotive company in the fight against climate change, attended the 26th United Nations Climate Change Conference (COP26) and signed the Glasgow Declaration. At present, Jaguar Land Rover’s global sustainability goals have not only been certified by the International Science-Based Carbon Target Initiative (SBTi), but also the implementation path to achieve this goal is also in line with the consensus under the Paris Agreement to limit the global average temperature rise to 1.5 ° C.

In terms of products, Jaguar Land Rover has identified electrification as the foundation for its corporate transformation. It is expected that the Jaguar brand will completely stop selling fuel vehicles in 2025 and become a 100% pure electric luxury brand in 2030. 60% of Land Rover brand products achieve zero emissions.

In the next five years, the Land Rover brand will continue to maintain its leadership in luxury off-road vehicles through its Range Rover, Discovery and Defender families, and usher in six pure electric models. It is understood that the first pure electric model of the Land Rover brand will come out in 2024, and all models of Land Rover will have pure electric configurations in 2030.

In addition, Jaguar Land Rover is also promoting the development of hydrogen fuel technology. Since last year, Jaguar Land Rover has developed hydrogen fuel cell vehicles based on Land Rover Defender and conducted related test programs.

Rossella Cardone, Director and Head of Sustainability at Jaguar Land Rover, said: "The’Reinventing the Future ‘global strategy emphasises sustainability as a foundation for success and Jaguar Land Rover aims to achieve net zero carbon emissions by 2039, minimising its carbon footprint across the value chain."

These sustainability goals reflect Jaguar Land Rover’s carbon reduction commitment to 2030, after which, as part of its "Reinventing the Future" strategy, Jaguar Land Rover aims to achieve net zero carbon emissions in its supply chain, products and operations by 2039. To achieve this goal, Jaguar Land Rover plans to decarbonize in product design and materials use, manufacturing operations, supply chain, electrification, battery strategy, recycling, and until the end of the vehicle life cycle.

Previously, Pan Qing said in an interview that Jaguar Land Rover will focus on the future of China and the Chinese market to achieve carbon neutrality in the transportation sector through technological and product innovation, and create an ecological chain for long-term sustainable development. While bringing unique experiences to users and creating positive social impact, it will effectively integrate carbon neutrality into its own future development, fully embrace electrification, lead the green transformation of transportation, and play a role as a pathfinder and pioneer in the coordinated development of carbon neutrality in China and the UK.

In Jaguar Land Rover’s global model factory, which is also the first vehicle manufacturing plant outside the UK – Changshu production base, for the intelligent manufacturing of new energy products such as the new Range Rover Evoque L P300e plug-in hybrid version models, by improving transmission efficiency, improving aerodynamics, and using lightweight materials, fuel consumption and carbon dioxide emissions are effectively reduced, energy consumption management and environmental protection are always paid attention to, resource recycling and zero discharge of nitrogen and phosphorus wastewater are achieved, reducing industrial carbon footprint. At the same time, the aluminum waste in the all-aluminum body shop can be recycled 100% through an infinite closed-loop recycling system, effectively reducing solid waste pollution.