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Wed 22 May 2019 09:37 AM

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Jaguar Land Rover MENA sales rise amid $4.58bn global losses

Jaguar sales rose 33 percent in the UAE in 2018/2019, while Land Rover sales rose 25 percent

Jaguar Land Rover MENA sales rise amid $4.58bn global losses
Jaguar F-PACE SVR will be making their debut in the Middle East this year

Sales of UK automotive manufacturer Jaguar Land Rover’s two brands have spiked in the Middle East and North Africa in 2018 and 2019, even as the company posted a $4.58 billion annual loss amid falling diesel sales and weakened demand in China.

According to figures sent to Arabian Business, Jaguar sales in the MENA region rose 46 percent compared to the previous year, while Land Rover sales saw a 13 percent year-on-year increase.

The figures show that Jaguar year-on-year sales rose by 327 percent in Bahrain and 63 percent in Saudi Arabia, compared to 33 percent in the UAE.

Land Rover, or its part, saw a 25 percent surge in sales in the UAE, along with a 117 percent increase in Bahrain, a 163 percent increase in Iraq and a 110 percent increase in Egypt.

“We’re thrilled to celebrate a profitable year for Jaguar Land Rover in MENA and we are already working to continue that trend in 2019,” said Rob Preston, Jaguar Land Rover’s MENA Sales Director.

“We continue to remain focused on delivering sustainable growth and expect to surge in all-around performance and customer desirability in 2019, driven by new models and technologies to provide our Middle Eastern customers with the next generation of Jaguars and Land Rovers,” Preston added.

Biggest loss in its history

Globally, however, the company – owned by India’s Tata Motors – reported losses of $4.58 billion, the biggest in its history. In February, the Jaguar Land Rover reported a quarterly loss of $4.32 billion in the last three months of 2018 after it was forced to take a $3.94 write-down in the value of investments in property and machinery.

In the three months ended on March 31, the company reported $152.57m (120m GBP) in pre-tax profit.

Additionally, the company has said that a 5.8 percent drop in Chinese sales offset rising sales in the UK and North American markets over the course of the 2018/2019 year.

Earlier this year, the company announced plans to cut 4,500 jobs as part of a $3.18 billion savings and cost-efficiency programme.

While Jaguar Land Rover MENA acknowledged that cuts have taken place in the region, it declined to give specifics on the numbers or locations of job losses.

A number of the company’s newest models, including the Range Rover Evoque and Jaguar F-PACE SVR will be making their debut in the Middle East this year, along with the all-electric Jaguar I-Pace.

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