JLR Sales Jump 11% Despite China Slump, Tata Motors Stock Up

9 Apr 2024 , 12:05 PM

Retail sales of Jaguar Land Rover surged by 11% year-on-year (YoY) to 114,038 units in the fourth quarter of FY24, as per Tata Motors’ announcement on April 8. At the time of writing, the stock was trading at ₹1016.85 which is a 0.36% gain from the previous close.

The growth was attributed to increased production and sustained global demand. Sales in the UK rose by 32%, in North America by 21%, and overseas by 16% compared to the same quarter last year. However, sales in China decreased by 9% and in Europe by 2% during the quarter.

Full-year sales witnessed a 20% YoY increase, with wholesale volumes reaching 401,303 units (up 25%) and retail sales totaling 431,733 units (up 22%). Wholesale volumes in the reported quarter stood at 110,190 units, marking a 16% growth from the corresponding period of the previous year.

“Retail sales for the fourth quarter were 114,038 units (including the Chery Jaguar Land Rover China JV), up 11 per cent compared to the same quarter a year ago and up 4 per cent compared to the quarter ended December 31, 2023. Compared to the prior year, retail sales in the quarter were up 32% in the UK, 21% in North America, and 16% overseas. Compared to the prior year, retail sales in China were down 9% and down 2% in Europe for the quarter”, said Tata Motors.

Tata Motors reported growth in wholesale volumes by brand: Range Rover (up 22% to 58,280 units), Defender (up 5% to 28,702 units), Jaguar (up 39% to 13,528 units), and Discovery (up 1% to 9,680 units).

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