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Jaguar Land Rover experiences robust Q2 FY24 growth and a 21% increase in retail sales

6 Oct 2023 , 12:25 PM

The premium division of Tata Motors, Jaguar Land Rover (JLR), which includes the Chery Jaguar Land Rover China JV, reported a successful second quarter of fiscal year 2024, with retail sales rising 21% year over year in every region. Improved supply, which resulted in a sequential rise in retail and wholesale volumes, was credited by the corporation with this growth.

During Q2 FY24, retail volumes increased dramatically across the board. North America witnessed a 32% increase in sales, while overseas markets saw a 56% increase. China, Europe, and the UK all experienced significant growth rates of 16%, 9%, and 7%, respectively.

JLR announced impressive wholesale numbers of 96,817 units for the second quarter and a total of 1.90 lakh units for the first half of FY24. For the quarter, this represents a 29% increase in wholesale volumes.

Range Rover Sport and Defender models continued to be in great demand throughout the quarter. By the conclusion of Q2, the order book was healthy, totaling 1.68 lakh units.

JLR anticipates a positive free cash flow of £300 million in the second quarter of FY24. Shares of the firm are currently up substantially in 2023, up 57%, and trading at Rs 622.40 on the NSE.

Tata Motors has been seeing faster sales growth, which is consistent with its strong Q2 performance, according to InvestingPro measures. With net income anticipated to increase this year, this growth is anticipated to continue. This demonstrates Tata Motors’ dominant role in the automobile industry, where it holds a strong position.

Despite the company’s impressive record, it is important to keep in mind that stock price fluctuations can be highly unpredictable. This can be risky for new investors as evidenced by the company’s stock, which is currently trading close to its 52-week high. However, the company’s strong performance over the past year and significant price growth over the past six months imply that for some investors, the risk might be worth the potential reward.

For feedback and suggestions, write to us at editorial@iifl.com

JAGUAR LAND ROVER IMPLEMENTS NEXT PHASE OF TRANSFORMATION PROGRAMME | JLR  Media Newsroom

Related Tags

  • Jaguar Land Rover
  • retail sales
  • Tata Motors
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