During the day, the shares of Tata Motors rallied as much as 3.96% to its record high of ₹624.65 apiece on the BSE.
Tata Motors share price jumped nearly 4% to hit a record high on Friday after the company reported a strong Jaguar-Land Rover sales during the quarter ended June 2023.
During the day, the shares of Tata Motors rallied as much as 3.96% to its record high of ₹624.65 apiece on the BSE.
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Jaguar-Land Rover’s, the luxury arm of the Indian auto major, reported 30% on-year growth in wholesale volumes at 93,253 units (excluding the Chery Jaguar Land Rover China JV) for the April-June quarter.
Wholesales were down 1% sequentially reflecting shipping schedules, while production was up quarter on quarter, the company said in an exchange filing.
JLR’s retail sales rose 29% YoY to 101,994 units (including the Chery Jaguar Land Rover China JV).
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Compared to the prior year, retail volumes were higher in the Overseas (up 83%), North America (up 42%), China (up 40%) and UK (up 6%) regions, while flat in Europe (0%), Tata Motors said.
By model, retail sales of our three most profitable models were up significantly compared to the same quarter a year ago with Range Rover up 199%, Range Rover Sport up 42% and Defender up 90%.
“The order book remained strong with over 185,000 client orders at quarter end, reducing from 200,000 at 31 March 2023 in line with expectations, as chip and other supply constraints continue to improve,” it said.
Range Rover, Range Rover Sport and Defender demand remains particularly strong, representing 76% of the order book.
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Meanwhile, based on preliminary cash balances, JLR expects to report positive free cash flow of over £400 million in the quarter.
On Friday, the shares of Tata Motors ended 2.94% higher at ₹618.45 apiece on the BSE.
