Tata Motors’ stock up by ~8% on reporting growth in group global sales data

10 Apr 2023 , 09:54 AM

Tata Motors, the automobile giant owned by the Tata group and also the parent company of luxury car manufacturer Jaguar Land Rover (JLR), has disclosed its group’s global wholesales figures for the quarter ending March 2023, which stood at 361,361 vehicles. 

This number comprises the sales of Jaguar Land Rover, a renowned brand known for its popular models such as Range Rover Evoque, Range Rover Sport, Discovery Sport, and Jaguar F-PACE.

As per a statement issued by the company, the quarterly sales witnessed an increase of 8% over the previous corresponding period.

During the three-month period, Tata Motors reported that its passenger vehicles (PVs) sold globally, including electric vehicles (EVs), amounted to 135,654 vehicles, exhibiting a growth of 10% in comparison to the same period last year.

Tata Motors registered a 3% year-on-year decline in global wholesales for all its commercial vehicles and the Tata Daewoo range. The company sold 1,18,321 vehicles, which is three percent lower than the number of vehicles sold during the same period in the previous year.

In the quarter ending March 2023, Tata Motors reported that the total number of Jaguar Land Rover vehicles sold globally amounted to 107,386, which includes sales of 12,737 vehicles from the joint venture between JLR and Chery Automobiles known as CJLR.

At around 9.50 AM, Tata Motors share was trading 7.92% higher at Rs 471.95 against the previous close of Rs 437.65 on NSE. The counter opened at Rs 452.05.

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