For Land Rover’s Range Rover Models, It’s a Waiting Game
There’s arguably no better vehicle that merges luxury with utility and off-road prowess better than the Land Rover (NYSE:TTM) Range Rover, and the customers shopping in that market seem to know it, too. The new models of the Range Rover and Range Rover Sport are reportedly so popular that new owners will have to wait about four months to get one. Add that to the fact that the factory in England producing them is cranking them out 24 hours a day.
According to a Land Rover executive, the pent-up demand is so far exceeding the supply at a rate that is apparently faster than the company’s production can keep pace with. The U.K. factory runs around the clock five days per week; the weekend is saved for plant maintenance.
“Depending on where you are in the country, I would say the average is about a four-month wait right now for those products,” Kim McCullough, the Land Rover brand vice president, said in an interview with Edmunds at the 2014 Detroit Auto Show.
She added that the lack of vehicles on dealer lots was due to a production issue, essentially “getting up to a point where we are producing enough vehicles to meet demand,” she told the publication.
Land Rover’s new Range Rover — just the fourth generation since 1970 — have been flying off of dealer lots since late 2012. The Range Rover Sport has been equally popular since its release, as well. McCullough said to Edmunds that Land Rover is ”continuing to work through [the constraints] and maximize production.”
Land Rover sold 12,221 Range Rover units in the United States last year, a nearly 56 percent increase over the year prior. Inclusive of the Evoque, the LR2, and the LR4, Land Rover sales were up 15 percent for 2013.
“It is amazing how many people have owned five, six, seven Range Rovers,” McCullough said to the auto publication. “That is a vehicle they consistently have in their household fleet. We have a lot of loyalty.”