Shares of Tata Motors surged 1.60% on April 9 as Jaguar Land Rover (JLR) United Kingdom, a subsidiary of Tata Motors Limited recently reported a sales increase of over 20% year-on-year due to higher production and consistent global demand, this is per the company’s regulatory filing on April 8, 2024.

During the quarter under review, the wholesale volume of JLR excluding the Chery Jaguar LandRover China JV stood at 110,190 units, marking a 16% YoY, from 94,991 units of sales volume, reported in the same quarter last year. Compared with Q3FY24, the wholesale volume grew by 9% quarter-on-quarter. 

Compared to the prior year, wholesale volumes increased for all brands in the last quarter, including Range Rover (up 22% to 58,280 units), Defender (up 5% to 28,702 units), Jaguar (up 39% to 13,528 units), and Discovery (up 1% to 9,680 units).

Retail sales during the quarter, including the Chery Jaguar LandRover China JV stood at 114,038 units, which is an 11% YoY and a 4% QoQ increase, respectively. 

In comparison to the previous year, retail sales in the quarter have increased by 32% in the UK, 21% in North America, and 16% overseas. However, retail sales in China have decreased by 9%, and in Europe, they have decreased by 2% for the quarter compared to the prior year.

In the full year ending on March 31, 2024, wholesale volumes were 401,303, and retail sales were 431,733, which is a 25% and 22% increase, respectively, compared to the previous year. Wholesale volumes and retail sales have increased in all regions compared to the prior year.

At  10:50 am, the shares of Tata Motors Ltd. were trading flat at Rs 1,018.05 on NSE.