JLR sales up 11% in Q4 on sustained global demand

Tata Motors said Jaguar Land Rover’s Q4 sales rose 11 % from a year earlier to 114,038 units, driven by increased production and sustained global demand.
“Retail sales for the Q4 were 114,038 units (including the Chery Jaguar Land Rover China JV), up 11 % compared to the same quarter a year ago and up 4 % compared to the quarter ended December 31, 2023. Compared to the prior year, retail sales in the quarter were up 32 per cent in the UK, 21 per cent in North America, and 16 per cent overseas & retail sales in China were down 9 per cent and down 2 per cent in Europe for the quarter.

For the full year ended March 31, 2024, wholesale volumes were 401,303 and retail sales were 431,733, up 25 per cent and 22 per cent, respectively, compared to the prior year, it added.

“Wholesale volumes of 110,190 units in the fourth quarter (excluding the Chery Jaguar Land Rover China JV) were up 16% compared to the same quarter a year ago and up 9% compared to the quarter ended 31 December 2023,” the carmaker stated in an exchange filing.

By brand, compared to the prior year, wholesale volumes increased in the quarter for Range Rover (up 22 per cent to 58,280 units), Defender (up 5 per cent to 28,702 units), Jaguar (up 39 per cent to 13,528 units) and Discovery (up 1 per cent to 9,680 units), it added.

The figures were released post-market hours. Shares of Tata Motors settled 0.59 per cent higher at Rs 1,012.95.

Last month, Tata Motors said it will split into two listed entities and separate its commercial vehicles business from its passenger vehicles arm, which houses the lucrative JLR business.