Tata Motors-owned Jaguar Land Rover reports 5% increase in Q1 sales

    Tata Motors-owned Jaguar Land Rover (JLR) on Friday (July 5) said the company reported a 5% increase in wholesale volumes for the first quarter ended June 30, 2024, compared to the same period last year.

    Wholesale volumes reached 97,755 units, excluding the Chery Jaguar Land Rover China JV, driven by sustained demand across its vehicle line-up. Retail sales, including the Chery JV, also saw a significant uptick, rising by 9% to 111,180 units in Q1 FY25 compared to a year ago.

    “Wholesale volumes of 97,755 units in the first quarter of FY25 (excluding the Chery Jaguar Land Rover China JV) were up 5% compared to the same quarter a year ago, while retail sales of 111,180 units in the first quarter (including the Chery Jaguar Land Rover China JV) grew 9% compared to the same quarter a year ago,” according to a stock exchange filing.

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    Wholesales of Range Rover and Range Rover Sport models increased in the first quarter by 22% and 46%, respectively versus the previous year, due to the new body shop increasing production capacity in Solihull, West Midlands.

    “The overall mix of the most profitable Range Rover, Range Rover Sport and Defender models increased to 68% of total wholesale volumes, as part of the company’s focus on value within its Reimagine strategy,” the company said.

    Regionally, JLR witnessed robust growth in retail sales, particularly in North America (up 43%), the UK (up 14%), and Europe (up 4%) compared to the previous year. However, quarter-on-quarter comparisons showed a decline in wholesale volumes by 11% and retail sales by 3%, reflecting typical cyclical fluctuations between Q4 and Q1.

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    The waiting list for the new Range Rover Electric continues to grow, with over 39,000 clients now signed up. The new Defender OCTA was revealed this week with a limited number of prospective clients to be invited to one of seven exclusive events to experience the product, it said.

    Shares of Tata Motors Ltd ended at ₹993.70, down by ₹5.35, or 0.54%, on the BSE.

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