Jaguar Land Rover (JLR), a wholly-owned subsidiary of Tata Motors Limited, revealed its sales figures for the June quarter on Friday evening, showcasing notable growth and continued demand for its premium vehicle lineup.
JLR reported wholesale volumes of 97,755 units for the April-June period, marking a 5% increase compared to Q1 FY24. Retail sales also experienced an uptick, with 111,180 units sold in the June quarter, representing a 9% increase from the same period the previous year.
The wholesale volumes, excluding the Chery Jaguar Land Rover China JV, reached 97,755 units, fueled by sustained demand across JLR’s diverse vehicle range. Retail sales, including the Chery JV, saw a substantial rise, increasing by 9% to 111,180 units in Q1 FY25 compared to a year ago.
JLR’s most profitable models, the Range Rover, Range Rover Sport, and Defender, accounted for 68% of total wholesale volumes and 59% of total retail sales. The newly introduced Range Rover Electric model has garnered significant interest, with over 39,000 clients registered on the waiting list.
Wholesales of the Range Rover and Range Rover Sport models soared in the first quarter, increasing by 22% and 46%, respectively, compared to the same period last year. This increase is attributed to the new body shop that enhanced production capacity in Solihull, West Midlands.
Despite the year-on-year growth, wholesale volumes and retail sales saw a decline of 11% and 3% respectively, compared to the previous quarter, reflecting the cyclical fluctuation in volumes between Q4 and Q1. JLR plans to release its full financial results for the June quarter at the end of July or the beginning of August.
In June, Tata Motors reported total sales of 75,604 units, a 7.4% decline from June 2023, falling short of analyst expectations. However, JLR’s U.K. sales showed resilience, clocking a 5% year-on-year increase to 6,421 units in June, following a remarkable 29% year-on-year jump in May sales.
The share price of Tata Motors rose by 0.54% to ₹999 per share on the NSE. Notably, the stock has gained 28% in 2024, reflecting investor confidence in the company’s performance and growth prospects.
Jaguar Land Rover’s impressive sales figures for the June quarter underline the continued demand for its premium models and strategic enhancements in production capacity. As the company prepares to release its detailed financial results, the market will keenly observe its performance trajectory and future growth initiatives.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.
Published on: Jul 8, 2024, 4:02 PM IST
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