New Delhi: Shares of Tata Motors on Friday surged nearly 4 per cent to hit a record high of Rs 624.65 per share after the company reported strong sales of its Jaguar Land Rover (JLR) during the April-June quarter of FY2023.
Jaguar Land Rover, a luxury unit owned by the Indian auto giant, reported a 30 per cent year-on-year (YoY) growth in April after selling 93,253 units under wholesale volume (excluding Chery Jaguar Land Rover China JV) . June quarter.
Meanwhile, its retail sales rose 29 per cent to 101,994 units (including the Chery Jaguar Land Rover China JV) from the previous quarter a year ago.
The company said in an exchange filing that later wholesale sales were down 1 percent due to the shipping schedule, while production saw a quarter-over-quarter increase.
Overseas sales saw an 83% increase
Retail sales (overseas) grew by 83 percent in North America (up 42 percent), China (up 40 percent) and the UK region (up 6 percent), while Europe, Tata Motors, saw no growth. Said.
Tata Motors said that “Model wise, retail sales of our three most profitable models grew significantly compared to the same quarter a year ago, with Range Rover up 199%, Range Rover Sport up 42% and Defender up 90%. “
In addition, it added, “The order book remained strong with over 185,000 client orders at the end of the quarter, in line with expectations to reduce to just under 200,000 at March 31, 2023, as chip and other supply constraints continue to improve.” “