Tata Motors Q1 Update: Global wholesales rise 2% YoY to 3.29 lakh units

Global wholesales of all commercial vehicles and Tata Daewoo range in Q1 FY25 totaled 93,410 units, a 6% increase over Q1 FY24.

The announcement was made during market hours, and around 1 pm on the NSE, Tata Motors' stock was trading up by 0.5% at Rs 681.60.

Global wholesales for JLR were reported at 97,755 units, a 5% YoY increase. Jaguar wholesales for the quarter stood at 8,227 vehicles, while Land Rover wholesales totaled 89,528 vehicles.

The company attributed JLR's YoY growth to sustained demand. The wholesale volumes of JLR in the first quarter of FY25 do not include units from its Chery Jaguar Land Rover China JV.

The retail sales of 111,180 units in Q1 grew 9% compared to the same quarter a year ago, the company's Friday filing to exchanges revealed. This includes the Chery Jaguar Land Rover China JV.

Wholesales of Range Rover and Range Rover Sport models increased in Q1 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.

Compared to the prior year, retail sales in the quarter were up 43% in North America, 14% in the UK, and 4% in Europe.

Compared to the previous quarter ended on 31 March 2024, wholesale volumes and retail sales declined by 11% and 3%, respectively, reflecting the cyclical fluctuation in volumes between Q4 and Q1.