Tata Motors Shares Rise as Jaguar Land Rover Sales Surge 30% in June Quarter

10 Jul 2023 , 04:00 PM

Tata Motors shares experienced a gain of around 30% on July 10 following a significant rise in wholesale sales for Jaguar Land Rover (JLR) during the June quarter, compared to the same period last year.

Tata Motors provided a quarterly update on July 7, stating that wholesale sales for JLR surged by 30% year-on-year (YoY) in the first quarter, totaling 93,253 units. Furthermore, retail sales for JLR also showed a substantial YoY growth of 29%, amounting to 101,994 units.

In the April-June quarter, JLR’s client orders witnessed a quarter-on-quarter (QoQ) decline of 7.5%, reaching 185,000 units. However, this was in line with the company’s expectations, as improvements were observed in the chip shortage and other supply constraints.

Comparing sales to the same period the previous year, JLR experienced remarkable growth in the North American market, with a 42% increase, while China saw a 40% rise, and the United Kingdom witnessed a 6% growth. Sales remained flat in Europe.

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