Jaguar has reported its performance for the second quarter of 2022, and the news is not good for the investors. The company sold 15,207 cars globally, a significant 48 percent reduction from the same period last year.
The downturn affected its Land Rover brand too, which sold 63,618 units, or 33 percent less than it did in 2021. The Jaguar Land Rover group sold 78,825 vehicles, down 37 percent.
The British company blamed production constraints but noted that demand remained strong throughout the quarter.
The electric Jaguar I-PACE also witnessed a slump, selling 2,175 in the quarter. This was a 14 percent decline from Q2 2021 and the fourth consecutive quarter of declining sales. The model’s share of Jaguar’s total sales jumped to 14.3 percent, compared to 8.7 percent last year.
Jaguar sold 4,189 I-PACE in the first half of 2022, down by 12 percent. This brought the number of the EV model sold globally to about 54,800. The company reported that the share of electrified vehicles (BEV + PHEV) rose to 66 percent in Q2, compared to 64 percent in Q1, showing the company is making progress in electrifying its product lineup.
Both brands are up for electrification, with the first BEV Land Rover arriving in 2024. It will be accompanied by the first “new” purely electric Jaguar in the same year. We previously reported Jaguar was rumored to be launching three new SUVs in 2025.
Mazda also reported dwindling sales of its MX-30 for July, selling only eight units. However, the EV never had a great reception.