 "Tata Motors")
Tata Motors posted a 7 per cent year-on-year (YoY) rise in wholesales globally in the second quarter of Financial Year 2023-24 (FY24) at 342,376 units, gaining from growth in Jaguar Land Rover (JLR) sales.
On a sequential basis, the company posted a 6.3 per cent rise in group global wholesales compared to 322,159 units in the first quarter of FY24.
JLR’s global wholesales were at 9,6817 units, up 29 per cent excluding the Cherry-JLR JV sales. Of that number, Jaguar wholesales were 13,560 units during the quarter and Land Rover wholesales were 83,257 units. Quarter-on-quarter (QoQ) JLR wholesales grew marginally from 93,253 units in Q1FY24.
Tata Motors Commercial Vehicles and Tata Daewoo range sold 106,620 units in the second quarter, up 3 per cent over the same period last year. Passenger vehicle sales, however, were down by 3 per cent to 138,939 units. Commercial vehicles wholesales were down 15 per cent in the previous quarter, and the company has picked up from there. QoQ, global commercial vehicle wholesales grew by 57 per cent.
In Q1 FY24, passenger vehicle sales were up 8 per cent to 140,450 units. In the second quarter, India sales of PVs were affected as utility vehicle (UV) sales saw a dip. Nexon and Punch sales were down almost 5 per cent YoY in the domestic market. In comparison, Harrier and Safari sales were down 45 per cent in the July to September quarter. Tata Motors launched a face-lift version of the Nexon in the Indian market recently, as it cuts down making the old model, impacting numbers. It is also planning to bring in a facelift version of the Harrier.
