Tata Motors Q1 update: Global wholesales increase 2% YoY; stock jumps | Stock Market News

Tata Motors‘ global wholesales for the quarter ending June 30, 2024, reached 329,847 units, reflecting a 2 per cent year-on-year increase, according to the company’s filing to the exchanges on Monday.

In Q1 FY25, Tata Motors’ global wholesales of passenger vehicles totaled 138,682 units, marking a 1 per cent decrease compared to Q1 FY24.

Global wholesales of all commercial vehicles, including the Tata Daewoo range, reached 93,410 units in Q1 FY25, marking a 6 per cent increase compared to Q1 FY24.

The announcement was made during market hours, and by around 1 pm on the NSE, Tata Motors’ stock was trading 0.5 per cent higher at 681.60.

Global wholesales for JLR reached 97,755 units, marking a 5 per cent year-on-year increase. For the quarter, Jaguar wholesales were 8,227 vehicles, while Land Rover wholesales amounted to 89,528 vehicles.

The company attributed JLR’s year-on-year growth to sustained demand. The wholesale volumes for JLR in the first quarter of FY25 do not include units from its Chery Jaguar Land Rover China JV.

Retail sales for Q1 totaled 111,180 units, a 9 per cent increase compared to the same quarter a year ago, according to the company’s Friday filing to exchanges. This figure includes the Chery Jaguar Land Rover China JV.

The proportion of the most profitable models—Range Rover, Range Rover Sport, and Defender—increased to 68 per cent of total wholesale volumes, aligning with the company’s value-focused Reimagine strategy.

Retail sales for the quarter rose by 43 per cent in North America, 14% in the UK, and 4% in Europe compared to the previous year.

However, when compared to the previous quarter ending on March 31, 2024, wholesale volumes and retail sales declined by 11 per cent and 3 per cent, respectively, due to the typical cyclical fluctuations between Q4 and Q1.

Tata Motors share price ended Monday’s trading session in green at 1,002.90, against previous close at 993.65 per share on Friday last week.

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