Jaguar I-Pace Sales Faded Again In Q2 2023

Will the volume decrease to less than 5,000 a year now?

By: Mark Kane

Aug 9, 2023 at 12:35pm ET

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Jaguar reports 15,467 global retail car sales during the second quarter of 2023, which is nearly two percent more than a year ago. The Land Rover brand noted a much higher growth rate of 36 percent, allowing the broader Jaguar Land Rover group (part of Tata Motors) to noticeably rebound to 101,994 (up 29 percent year-over-year).

Sales results in Q2 2023 and YTD:

Jaguar: 15,467 (up 2%) and 30,901 (up 4%)
Land Rover: 86,527 (up 36%) and 173,982 (up 36%)
Jaguar Land Rover: 101,994 (up 29%) and 204,883 (up 30%)

The all-electric Jaguar I-Pace, on the other hand, is fading. The model noted just 1,339 units in Q2 (down 38 percent year-over-year), which is the eighth consecutive quarter of year-over-year decline. BEV share also decreased from 14.3 percent a year ago to 8.7 percent recently.

Jaguar I-Pace sales – Q2 2023

During the first half of 2023, a total of 2,798 Jaguar I-Pace were sold (down 33 percent year-over-year), which was about 9.1 percent of the brand's total volume.

For reference, in 2022, Jaguar I-Pace sales amounted to 7,307 (down 27 percent year-over-year). Cumulatively, over 60,000 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

2023 is now on track to become the slowest year for Jaguar I-Pace sales - potentially around 5,000 units.

It's hard to be optimistic about the Jaguar I-Pace, as the 2024 model year will retain its existing powertrain, while competition becomes more fierce, both on the performance/range level and in regards to pricing.

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Next year should bring a major change to Jaguar and Land Rover electrification, as a new wave of all-electric models will arrive. The first will be an all-electric Range Rover BEV, scheduled for market launch in 2024.

Jaguar is set to become a 100 percent all-electric luxury brand with multiple new models, including a 4-door GT (scheduled for unveiling in 2024 and assigned to the production facility in Solihull, United Kingdom).

Some of the new BEVs might get a driving range of up to 450 miles.