Jaguar Land Rover has insisted the company “continues to see strong demand” despite a semiconductor shortage hampering production.
The automotive giant said it had seen “gradual improvement” in supply as 2022 kicked off.
The company reported improved production and wholesale volumes compared to the previous quarter as it sought to raise hopes the global shortage of computer chips could be near an end. JLR added the increased supply was expected to continue through the next fiscal year.
The firm said: “Despite the impact of the semiconductor shortage on production and sales, the company continues to see strong demand for its products with global retail orders again setting new records in the quarter. As of March 31, 2022, the total order book has grown to over 168,000 units, up around 14,000 orders from December 31, 2021. ”
During the three months to March 31, 2022, JLR sold just over 79,000 vehicles, a 1.4 percent drop on the previous quarter and a 36 percent drop for the year. Jaguar sold 14,574 cars, up 1.2 per cent on the third quarter but down 37.9 per cent for the year.
The shortage of semiconductors that has plagued the automotive industry over the last two years is expected to remain well into 2023, said BMW boss Oliver Zipse.