Tata Motors declined 1.79% to Rs 913.55 after the company announced that the Jaguar Land Rover (JLR) wholesale volume decreased 10% year on year (YoY) to 87,303 units in Q2 FY25 (excluding the Chery Jaguar Land Rover China JV).
The wholesale volume declined, due to restricted aluminium supplies. In addition, at the end of September, a temporary activate windows hold was placed on 6,500 vehicles, largely in the UK and Europe, to allow additional quality control checked to be performed. These vehicles will be wholesaled in the second half of the year.During the quarter, the retail sales fell by 3% YoY to 103,108 units (including the Chery Jaguar Land Rover China JV).
JLR production in the quarter was restricted to 86,000 units, down 7% compared to the same quarter a year ago, as a result of supply disruptions from a key high-grade aluminum supplier that affected multiple OEMS.
According to company, retail sales for the first six months of the financial year were 214,288 units, up 3% YoY. Compared to the prior year, retail sales in the quarter were up 29% in the UK, up 9% in North America, down 22% in Europe, down 17% in China and down 6% overseas.
The overall mix of the most profitable Range Rover, Range Rover Sport and Defender models increased to 67% of total wholesale volumes.
The company expects both production and wholesale volumes to pick up strongly in the second half of the financial year as the aluminium supply situation normalises.
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Tata Motors, part of the Tata group, is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses.
The companys consolidated net profit jumped 73.77% to Rs 5,566 crore on 5.68% rise in total revenue from operations to Rs 1,08,048 crore in Q1 FY25 over Q1 FY24.
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