The Tata Motors Group on Tuesday announced that its global wholesales, including Jaguar Land Rover, fell 9% in the quarter ended June to reach nearly 3 lakh units.
The global wholesales for all Tata Motors commercial vehicles and the Tata Daewoo range were recorded at 87,569 for the first quarter, reflecting a 6% decline compared to the first quarter of the previous financial year, according to an exchange filing on Tuesday.
Tata Motors' passenger vehicle global wholesales declined 10% to 1.25 lakh units compared to the same quarter in the previous fiscal.
Additionally, Jaguar Land Rover recorded global sales of 87,286 vehicles, which is 11% lower in comparison to the same period of last year. Jaguar sales for the quarter ended June was at 2,339 vehicles while Land Rover sales stood at 84,947 units.
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. 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 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 aftermarket hours. However, the shares of Tata Motors rose over 1% on Tuesday. Tata Motors shares settled 0.63% higher at Rs 693.20 apiece on the NSE, compared to a 0.24% advance in the benchmark Nifty 50.
Tata Motors shares have fallen 30.88% over the past 12 months and 6.34% 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 734.91 implies a potential upside of 6% from its previous closing.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
