Jaguar Land Rover insists the company is “seeing strong demand” despite shortages in semiconductor production.
The automotive giant says it has seen a “gradual improvement” in supply since the start of 2022.
The company reported higher-than-expected production and wholesale volumes compared to the previous quarter, as it sought to raise the global shortage of computer chips. JLR added that the increased supply is expected to continue into the next financial year.
The firm said: “Despite the impact of the semiconductor deficit on production and sales, the company continues to see strong demand for its products, setting new records for the quarter with global retail orders. 14,000 orders increased. “
In the three months to March 31, 2022, JLR sold only 79,000 vehicles, down 1.4 percent from the previous quarter and down 36 percent for the year. Jaguar sold 14,574 cars, up 1.2 percent from the third quarter but down 37.9 percent for the year.
BMW boss Oliver Gypsy says the semiconductor deficit that has plagued the automotive industry for the past two years is expected to be good by 2023.