Tata Motors’ Global Sales Surge, Led by Jaguar Land Rover
New Delhi: Tata Motors, the parent company of Jaguar Land Rover (JLR), is celebrating a major uptick in its global sales, especially with the remarkable performance of its luxury subsidiary, JLR.
Global Sales Highlights:
In the third quarter of FY24, Tata Motors witnessed a 9% increase in global wholesales, reaching an impressive figure of 338,177 units. This surge included Tata Motors’ commercial vehicles and Tata Daewoo range, growing by 1% to 98,679 units.
Passenger Vehicle Growth:
The passenger vehicle segment at Tata Motors saw a solid 5% growth, recording 138,455 units in the same quarter. Jaguar Land Rover, a standout within the Tata Motors umbrella, drove this success with exceptional wholesales of 101,043 vehicles, marking a staggering 27% surge from the previous fiscal year.
Domestic Market Dynamics:
In the domestic market, Tata Motors reported a 4% rise in total sales, reaching 76,138 units in December 2023. Passenger vehicle sales, including electric vehicles, contributed to this increase, standing at 43,470 units, a notable 9% jump from December 2022.
Jaguar Land Rover’s Triumph:
Jaguar’s contribution to the quarterly wholesales stood at 12,149 vehicles, while Land Rover took the lead with 88,894 vehicles, underscoring the distinct success of these two luxury brands within JLR.
JLR’s Standout Performance:
Jaguar Land Rover, excluding the Chery Jaguar Land Rover China JV, achieved its highest wholesales in 11 quarters, reporting 101,043 units, showcasing a 27% increase year-on-year and a 4% rise from the previous quarter.
JLR’s Retail and Demand Surge:
Retail sales for the third quarter surged by 29% year-on-year to 109,140 units, indicating strong market demand across various regions. Notably, the UK exhibited a 55% increase, while overseas markets experienced a 49% rise. Even in highly competitive markets like North America, JLR managed a commendable 6% year-on-year increase.
Looking Ahead:
The order book for JLR reflects robust demand, with 148,000 client orders at the quarter’s end. This strong performance, particularly for models like Range Rover, Range Rover Sport, and Defender, underscores the sustained desirability of these vehicles.
Tata Motors is set to release the full financial results for Jaguar Land Rover for Q3 FY24 at the start of February, further highlighting the success and trajectory of these luxury automotive brands.
Tata Motors’ global surge in sales, especially propelled by Jaguar Land Rover’s exceptional performance, marks a significant milestone. With a remarkable increase in global wholesales and impressive growth in domestic sales, particularly in the passenger vehicle segment, the company’s momentum seems strong as it continues to meet and exceed market demands.
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