Jaguar reports 15,434 global retail car sales during the first quarter of 2023, which is nearly six percent more than a year ago. The Land Rover brand noted an even higher growth rate of 36 percent, allowing the broader Jaguar Land Rover group (part of Tata Motors) to achieve a six-digit result (102,889) for the first time since Q2 2021.
Sales results in Q1 2023:
Unfortunately, the all-electric Jaguar I-Pace is not part of this rebound. Sales of this sole BEV in the Jaguar Land Rover's lineup decreased in Q1 to just 1,459 units globally (down 28 percent year-over-year). That's about 9.5 percent of the Jaguar's total volume.
Jaguar I-Pace sales – Q1 2023
For reference, in 2022, Jaguar I-Pace sales amounted to 7,307 (down 27 percent year-over-year). Cumulatively, almost 59,441 Jaguar I-Pace were sold globally.
Jaguar I-Pace sales:
- 2018: 6,893
- 2019: 17,355
- 2020: 16,457
- 2021: 9,970
- 2022: 7,307 (down 26.7%) and 11.9% share
We don't have any optimism about the Jaguar I-Pace sales, as the results have been gradually fading. The 2024 model year will retain its existing powertrain, which means that the situation will likely not improve - especially considering how competitive the crossover/SUV segment is now.
But there is good news for the Jaguar and the broader Jaguar Land Rover. The Jaguar brand will be transformed into an all-electric luxury brand - the first out of three reimagined models will be a 4-door GT, scheduled for unveiling in 2024 and assigned to the production facility in Solihull, United Kingdom.
Even faster, because later this year, the company will introduce the first all-electric Range Rover BEV - it will be available for pre-order in 2023, before the market launch in 2024.
The Jaguar Land Rover's Halewood plant in the UK will become an all-electric manufacturing facility. This also indicates some serious electrification plan, backed by an $18.6 billion (15 billion GBP) investment over the next 5 years (related to electrification and digital transformation).