We’ve seen the recent year JLR financial reports, and it’s crystal clear profit is not a consideration.

 

Oh, please spare me the Google search. What did you read? Record profits? How much increase YOY or what were you spotting? How much of that break down was vehicle sales vs. parts sales. A number of vehicle manufacturers are killing it on the parts side so much that it is massively overcoming their huge decrease in vehicle sales. Enjoy it now, is what I'm thinking. Wait a year or two for your product to dry up and they have a massive hangover when the subsequent parts sales volume corresponds. I'll laugh my butt off at all the scalpers when they truly start to suffer....(ok, I'll quit getting bitter and go back to my usual happy place).

 

Sales Revenues down from 24B pounds in 2018 to 19B in 2021. No idea about GP.

 

The 110 V8 build went up by $4K. I have my dealer build sheet and today's online build to compare. I hope this is worth the wait.

 

Ok, so I had to skim thru the annual report. Unfortunately, it's a fiscal YE so I can't find the 21-22 year ended March yet. I'm sure it will come out soon. Not sure about non-US financial reporting requirements.

Here's the annual report: Link. It's now about a year dated.

Here's the relevant part:



It's an absolute lawn dart of vehicle unit sales and sales revenue. However, the profit has gone nuts. Two things. First off, this is before exceptional items which interestingly sends the profit to zero as they write off a bunch of stuff. That's "Financial Management" that they teach you in business school, not "Financial Manipulation" that winds you up in prison. Not advocating, just not indicting. Second off, there is NO breakdown as to where that is coming from. The accounting / marketing wonks talk about more efficient operations, but without a breakdown of where that's coming from - it's all "nice and fluffy" statements. There is NO breakdown of parts vs. vehicle sales revenue or GP, but if industry norms are held - I would believe it to be driven largely by increased parts sales (volume & pricing) and vehicle pricing that partially offsets the volume drop. As a huge fan of the brand, I'm very concerned that the consistent/continued drop in vehicle volume propped up by reliance on parts sales that is chasing the volume drop is a spiraling existential problem. Hate to say it, but it's empirical that the switch to making Land Rovers (Defenders specifically) a very pricy vehicle may not pan out well in the end. The more I think about it, the more I'm motivated to get a "parts car" from CoPart!

 

@insider Thanks for always engaging. Question still remains: What happens to the orders currently being built? Will JRL expect the customer to pay the new MSRP or will JLR commit to the original agreement when the customer (me) order the truck?

Thanks much
Matt

 

I’ll ask the questions again: What happens to the orders currently being built? Will JRL expect the customer to pay the new MSRP or will JLR commit to the original agreement when the customer (me) order the truck?

I’ve read JLR sent a letter to dealers explaining the price increase and the effective date of March 31, 2022. Apparently the letter went on to tell the dealers that it would honor the price for orders prior to March 31, 2022.

I Purchased a dealers stock order for an X – dynamic 110 V6 on March 25, 2022 that was already in the system. I was freely able to change the options but not the model, doors or engine on the order. I made additional changes in early April and the dealer printed off the pre-price increase prices at that time. Further they they did not mention any coming price increases at that time.

Nnw my vehicle is sitting on the dock waiting to be loaded on a vessel. Since I have read in the forum a number of options may not be coming on the vehicle, I called the dealer to confirm my order was built as specified. Fortunately it appears that I got everything I ordered however when I was checking the build sheet I saw the new pricing in effect. I texted my sales associate of couple hours ago asking if they would honor the original pricing. His response was that he would check. No reply yet.

i’m curious if anybody else is in a similar situation and what their experience has been. Always nice to have some ammunition in advance. Thanks!
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Anyone dealing with MSRP increase on their order? I was reviewing my build sheet and see that the price has increased vs. the price at order. I’ve contacted my Sales Associate to confirm the ordered price will be honored. He is “checking on it”.

 

My 2023 Order for a MY2023.5 Defender 110 SE 400PS the US List price on my order sheet from mid May was $69,300.

I optioned the heck out of it though, so final price was more.

 

I guess I wasn’t very clear on my question….

‘’I acquired an existing order for a MY23 X-Dynamic in March and the base price was $69,900. JLR increased all their prices in the interim to the now current X-Dynamic price of$ 72,200, Delivery also increased $75. And there were plenty of options as well, but there was no price increase on options. So the build (as built) sheet reflects $2425 over the price quoted at the time I acquired the order.

So now I have discrepancy (and I’m assuming others have or will be seeing this soon too) that is higher than agreed and I’m wondering how this is sorting out for them while I wait for delivery and a response from my dealer

so has anyone else encountered this yet and how has it worked out with your dealer