Tata Motors' Global Wholesale Volumes Rise 2% In Q1, Passenger Vehicles Segment Sees Dip

Tata Motors‘ global wholesales grew 2% year-on-year in the quarter ended June.

What Happened: Tata Motors sold 3.29 lakh vehicles including Jaguar Land Rover in the April-June period — around 2% higher than the number posted in the same quarter last year. Wholesale volumes for Jaguar Land Rover (excluding China joint venture) were 97,755 units, 5% higher as compared to Q1 FY24.

Wholesales of Jaguar were 8,227, while Land Rover wholesales were 89,528, for the quarter. The Range Rover, Range Rover Sport, and Defender models, which are the company’s most profitable models, accounted for 68% of total wholesale volumes and 59% of total retail sales, JLR said in a filing last week.

See Also: LIC, FIIs Marginally Raise Stake In SBI In June Quarter

Global wholesale of Tata Motors' commercial vehicles and Tata Daewoo range stood at 93,410 for the period,  marking a 6% rise on an annual basis. Global wholesale volumes of passenger vehicles including electric vehicles were recorded at 1.38 lakh units, which was 1% lower than the same period last year.

Earlier this month, shares of Tata Motors slipped after its June sales numbers missed analyst estimates. In June, the Tata Group company reported total sales of 75,604 units, reflecting a decrease of approximately 7.4% compared to the 81,673 units sold in June 2023. 

Tata Motors' Punch became the best-selling car in India for the June month. It defeated Maruti Suzuki's Swift to reclaim the top spot. Punch had been the best-selling car in April, before losing the spot in May. 

Price Action: Shares of Tata Motors closed 0.93% high at ₹1,002.90 on Monday.

Read Next: Blackstone In Talks To Gobble Up Majority Stake In Haldiram’s In ₹70,000 Cr Deal: Report

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: EquitiesNewsRetail SalesMarketsJaguar Land RoverTata GroupTata Motors