The Tata Motors Group's subsidiary, Jaguar Land Rover, reported on Monday a 15% decline in retail sales at 94,420 units in the first quarter of this financial year.
This largely reflects the planned wind-down of legacy Jaguar models1 ahead of the launch of new Jaguar, and a pause in shipments to the US during April 2025 following the introduction of US import tariffs.
The retail sales, including the Chery Jaguar Land Rover China joint venture, fell 13% in comparison to the previous quarter, according to an exchange filing on Monday.
The wholesale sales were recorded at 87,286 for the quarter ended June 2025, reflecting a 11% decline compared to the first quarter of the previous financial year. It was down 22% compared to the last quarter.
Wholesale volumes for the first quarter were up 21% in MENA, 4.6% overseas and 1% in China. However, it was down 12% in North America, 14% in Europe and 26% in the UK. According to the company, the UK was the most impacted by the planned cessation of the legacy Jaguar models.
The overall mix of Range Rover, Range Rover Sport and Defender models was at 77% of total wholesale volumes in the quarter ended June, up from 66% in the prior quarter and 68% year-on-year, reflecting the prioritisation of JLR's most profitable models.
JLR is expected to report its full financial results for the first quarter in August 2025.
The business update was shared after market hours. Tata Motors shares settled 0.03% lower at Rs 688.85 apiece on the NSE, compared to a flat close in the benchmark Nifty 50.
Tata Motors shares have fallen 30.67% over the past 12 months and 6.93% year-to-date.
Out of 35 analysts tracking the stock, 17 have a 'buy' rating, 12 suggest a 'hold,' and six recommend a 'sell.' The average of 12-month analysts' price target of Rs 735.09 implies a potential upside of 6.7% from its previous closing.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
