GLASGOW, SCOTLAND - The Jaguar I-Pace, the world's first zero emission premium SUV, is displayed on day 11 of the COP26 at SECC on November 10, 2021 in Glasgow, Scotland.
(Photo : Ian Forsyth/Getty Images)
British luxury automaker Jaguar found the going difficult in 2021, with its global car sales plummeting amidst the COVID-19 pandemic. Jaguar sold just 86,270 units last year, a 15.8 percent decrease compared to its sales in 2020. Jaguar had a rough fourth quarter, selling just 14,407 units from October to December, a 49 percent drop compared to the same period the previous year.
Jaguar blames semiconductor shortage for poor sales performance
Like other auto companies, Jaguar had trouble dealing with the semiconductor shortage. It affected the sales performance of Jaguar despite the strong demand for its vehicles. Fortunately for Tata Motors, its Land Rover unit had a better showing in 2021. Land Rover managed to retail 334,586 units last year, a 3.4 percent increase compared to its 2020 numbers.
Jaguar Land Rover ended 2021 with a 1.2 percent decline in sales compared to the previous year. Jaguar and Land Rover combined for 420,856 units sold last year.
It did not help matters for Jaguar that the I-Pace had its worst sales performance since its launch in 2018. Jaguar sold just 9,970 units of the all-electric SUV last year, a 39 percent decrease compared to 2020. It was the first time since 2018 that the I-Pace's annual sales dipped below the 10,000 mark.
The I-Pace notably slumped in the fourth quarter, with Jaguar selling just 2,558 units during that period, a massive 67 percent year-over-year drop. The average share of the I-Pace in Jaguar's total sales volume was just 11.6 percent in 2021.
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Demand for I-Pace drops in 2021
That is concerning for Jaguar, given the increasing demand for electric vehicles. To put those numbers into perspective, the average BEV share for Jaguar in 2019 and 2020 stood at more than 16 percent. Jaguar's sales with the I-Pace was pretty flat the entire year, with sales of the electric vehicle ranging between 2,230 and 2,650 units per quarter in 2021.
Jaguar had its best year with the I-Pace in 2019, selling 17,355 units of the pure-electric SUV that year. Jaguar encountered a slight drop in the I-Pace's sales the following year with 16,457 units sold.
Despite the I-Pace's poor sales showing in 2021, Jaguar's electric vehicle hit an important milestone last year, selling more than 50,000 units cumulatively across the globe. That being said, Jaguar expected I-Pace to sell at a much higher volume in its fourth year, given the rising popularity of battery-powered electric vehicles in the car industry.
The main hope now for Jaguar is to avoid the supply chain disruption that wrecked its sales performance last year. According to the British company, there has been some improvement in chip supply and wholesale volumes compared to the final quarter of 2021. That gives Jaguar the belief that 2022 would be a better year for them and that a major rebound is in the cards.
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