Jaguar Land Rover, a wholly owned subsidiary of Tata Motors Ltd., saw a 9% jump year-on-year in retail sales at 1.11 lakh units in the first quarter of the fiscal. The numbers include the sales of Chery Jaguar Land Rover Chine JV.
The wholesale volume in the first quarter was at 97,755 units, with a 5% jump in comparison to the same quarter a year ago, including the numbers for Chery Jaguar Land Rover Chine JV, the company announced through an exchange filing on Friday.
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However, in comparison to the previous quarter, the wholesale volume and retail sales declined by 11% and 3%, respectively, reflecting the cyclical fluctuation in volume between the two quarters.
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Wholesales of Range Rover and Range Rover Sport models increased in the first quarter by 22% and 46%, respectively, in comparison to the previous year. This was due to the new body shop increasing production capacity in Solihull, West Midlands.
The total wholesale volume of Range Rover, Range Rover Sport and Defender—the most profitable models—increased to 68% year-on-year. The jump was due to 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.
The company also added that the waiting list for the new Range Rover Electric has grown with over 39,000 new sign-ups.
Shares of Tata Motors closed 0.53% lower at Rs 992.90 per share, as compared to a 0.09% decline in the NSE Nifty 50.
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