JLR India's retail sales slip 2% despite strong SUV demand
What's the story
Jaguar Land Rover (JLR) has reported a 2% year-on-year (YoY) decline in its retail sales for FY26. The company sold 6,031 units during the period, while its wholesale volumes remained largely unchanged at 6,210 units. Despite the fall in overall sales, JLR's top-end luxury SUVs like Range Rover and Defender continued to do well in the market.
Quarterly performance
Performance in the last quarter of FY26
In the January-March quarter, JLR India's retail sales fell by 8% YoY to 1,651 units. However, wholesale volumes for the same period witnessed a growth of 6% YoY to reach 1,812 units. The company attributed its softer retail performance during this period to a challenging industry environment and the impact of a cyber incident during the year.
Information
Luxury SUVs continue to perform well
Despite the overall decline in volumes, JLR India's luxury SUVs continued to perform well. The Range Rover, Range Rover Sport, and Defender together accounted for over 80% of the company's total retail sales in FY26. Notably, the Defender was its best-selling model for the year.
Revenue growth
JLR India witnessed strong revenue growth for FY26
Despite the decline in sales volumes, JLR India witnessed a 14% YoY increase in revenue for FY26. This growth was attributed to a favorable product mix and higher contribution from premium models. Rajan Amba, Managing Director of JLR India, said the strong revenue performance reflects clients' trust in their modern luxury brands and highlights the potential of the Indian market.
Price adjustments
JLR slashes prices of select Range Rovers
Earlier this month, JLR India slashed prices for select imported Range Rover models in light of the proposed India-UK Free Trade Agreement (FTA). The company reduced the prices of the Range Rover SV and Range Rover Sport SV, both fully built units (CBUs) imported from the UK. After the revision, the Range Rover SV now starts at ₹3.50 crore while its sibling model starts at ₹2.35 crore (ex-showroom).