New Delhi: Shares of Tata Motors on Friday achieved a record high number up by nearly 4 per cent to Rs 624.65 a piece after the company reported robust sales of its Jaguar Land Rover (JLR) during the April-June quarter of FY23.
Jaguar land rover, a luxury unit owned by the Indian auto giant, reported a 30 per cent year-on-year (YoY) growth after it sold 93,253 units under wholesale volume (excluding the Cherry Jaguar Land Rover China JV) for the April-June quarter.
Meanwhile, its retail sales saw a hike by 29 per cent to 101,994 units(including the Chery Jaguar Land Rover China JV) as compared to the previous quarter a year back.
Wholesales decreased by 1 per cent subsequently due to the shipping schedules, whereas, production showed an increase quarter on quarter, the company said in an exchange filing.
Overseas sales sees hike by 83%
Retail sales (overseas) hiked by 83 per cent, North America (up by 42 per cent), China (up by 40 per cent) and UK regions (up by 6 per cent), while it showed no increase in Europe, Tata Motors said.
Tata Motors said that “By model, retail sales of our three most profitable models were up significantly compared to the same quarter a year ago with Range Rover up 199%, Range Rover Sport up 42% and Defender up 90%.”
Furthermore, it said, “The order book remained strong with over 185,000 client orders at quarter end, reducing from 200,000 at 31 March 2023 in line with expectations, as chip and other supply constraints continue to improve,”
(Written by – Mahek Nigam
Edited By – Prateek Gautam)
