JLR delivers on net cash positive target after strong FY25 sales

JLR today announces strong wholesale and retail sales for the fourth quarter of FY25 and the full year ended 31 March 2025, reflecting consistent, sustained global demand, as it achieved a net cash positive position, a key Reimagine strategy target.

Wholesale volumes for the fourth quarter stood at 111,413 units (excluding the Chery Jaguar Land Rover China JV), up 6.7% versus Q3 FY25 and up 1.1% year-on-year. Compared to the prior year, wholesale volumes for the fourth quarter were higher in North America (14.4%), Europe (10.9%), flat in the UK (0.8%), lower in China (-29.4%) and Overseas (-8.1%).

Retail sales for the fourth quarter of 108,232 units (including the Chery Jaguar Land Rover China JV) were down 5.1% compared to Q4 FY24 and up 1.8% compared to Q3 FY25.

The overall mix of the most profitable Range Rover, Range Rover Sport and Defender models was 66.3% of total wholesale volumes in Q4 FY25 and 67.8% for the full year.

For the full year ended March 31, 2025, wholesale volumes of 400,898 and retail sales of 428,854 were flat at -0.1% and -0.7% respectively, compared to the prior year. In addition, JLR achieved its net debt zero target, ending the financial year net cash positive, a key Reimagine strategy target. JLR will report its full year results for the year ended 31 March 2025 in May and, as usual, provide guidance on the outlook for FY26 at that time.

Shares of Tata Motors Ltd tumbled as much as 12% in opening trade on Monday after the homegrown automaker’s British luxury unit JLR “paused” shipments to the US for the month of April amid Donald Trump’s 25% tariffs on automobiles.

The US contributes nearly a third to JLR's global volumes, making it an important market for JLR's luxury brands like Range Rover, Range Rover Sport and Defender. JLR accounts for nearly two-thirds of Tata Motors revenues.

“As we work to address the new trading terms with our business partners, we are enacting our planned short-term actions including a shipment pause in April, as we develop our mid- to longer-term plans,” JLR said in a statement during the weekend.

Reacting to the development, shares of JLR parent Tata Motors opened lower at ₹552.50 against their previous closing price of ₹613.85 on the BSE. The stock crashed 11.57% to hit a 52-week low of ₹542.55.