Tata Motors announced on April 8th a significant surge in retail sales for Jaguar Land Rover (JLR), with a remarkable 11% year-on-year increase, totaling 114,038 units during the fourth quarter of FY24. This surge was primarily attributed to a ramp-up in production and sustained global demand for JLR vehicles.
Comparing the retail sales figures to the previous year, there was a notable uptick of 32% in the UK market, 21% in North America, and 16% in overseas markets. However, sales witnessed a slight decline of 9% in China and 2% in Europe during the quarter, as per the filing submitted by Tata Motors.
Looking at the broader picture, Tata Motors reported a robust 20% year-on-year growth in full-year sales. Wholesale volumes saw a significant increase, reaching 401,303 units, marking a 25% rise, while retail sales amounted to 431,733 units, recording an impressive 22% growth, as detailed in the exchange filing.
During the reported quarter, wholesale volumes surged to 110,190 units, representing a notable growth of 16% compared to the same period last year.
Tata Motors provided further insights, stating, “By brand, wholesale volumes saw positive growth compared to the previous year. Range Rover witnessed a 22% increase, totaling 58,280 units, Defender sales surged by 5% to 28,702 units, Jaguar experienced a substantial 39% growth, reaching 13,528 units, and Discovery saw a modest 1% increase, amounting to 9,680 units.”
This positive sales performance underscores Tata Motors’ successful execution of its strategies amidst evolving market dynamics and reinforces JLR’s position in the global automotive market.
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