Tata Motors rides high after JLR reports 5% rise in wholesale, 9% jump in retail sales for Q1FY25
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Tata Motors is currently trading at Rs. 998.40, up by 4.70 points or 0.47% from its previous closing of Rs. 993.70 on the BSE.
The scrip opened at Rs. 1003.50 and has touched a high and low of Rs. 1016.00 and Rs. 996.30 respectively. So far 975052 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1065.60 on 05-Mar-2024 and a 52 week low of Rs. 592.25 on 07-Jul-2023.
Last one week high and low of the scrip stood at Rs. 1016.00 and Rs. 974.00 respectively. The current market cap of the company is Rs. 332281.55 crore.
The promoters holding in the company stood at 46.36%, while Institutions and Non-Institutions held 35.34% and 18.30% respectively.
Tata Motors’ wholly owned subsidiary -- Jaguar Land Rover (UK) (JLR) has reported an increase in sales for the first quarter of FY25 (Q1FY25) (three-month period to June 30, 2024) compared to a year ago, reflecting sustained demand for its vehicles. Wholesale volumes of 97,755 units in the first quarter of FY25 (excluding the Chery Jaguar Land Rover China JV) were up 5% compared to the same quarter a year ago, while retail sales of 111,180 units in the first quarter (including the Chery Jaguar Land Rover China JV) grew 9% compared to the same quarter a year ago.
Wholesales of Range Rover and Range Rover Sport models increased in the first quarter 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.
Retail sales in the quarter were up 43% in North America, 14% in the UK and 4% in Europe compared to the prior year. Wholesale volumes and retail sales declined by 11% and 3% respectively, compared to the previous quarter ended 31 March 2024, reflecting the cyclical fluctuation in volumes between Q4 and Q1. The waiting list for the new Range Rover Electric continues to grow, with over 39,000 clients now signed up.
Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.
