Tata Motors‘s subsidiary Jaguar Land Rover saw sales of around 6,121 units in the month of July. This is an around 11% increase from the 5,516 units sold in July 2023.
What Happened: Jaguar’s sales for the month stood at 1,058 cars, marginally higher than the 1,046 units sold in the same month last year. Land Rover saw a jump of around 13% to 5,063 units, compared to 4,470 cars sold in July 2023. The luxury car makers sold around 6,421 units in the month of June.
Back home, Tata Motors' total sales for the month fell by 10.7% to 71,996 units, compared with 80,633 units sold in July 2023. Domestic sales also dropped by around 11% year-on-year to 70,161 units.
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Total commercial vehicle sales plunged by about 18% to 27,042 units, compared to 32,944 units in the same month last year. Passenger vehicle sales also decreased by 6% to 44,725 units.
Last week, the Tata Group company reported a net profit of ₹5,566 crore for the quarter, a 73% increase from ₹3,203 crore in the same period last year. Revenue for the quarter stood at ₹1.08 lakh crore, marking a 6% rise from ₹1.02 lakh crore in the corresponding quarter of the previous year.
However, the company’s net automotive debt increased to ₹18,600 crore, up 16% from ₹16,000 crore at the end of March 2024. Jaguar Land Rover's net debt rose to ₹10,500 crore, up from ₹7,700 crore at the end of the March quarter.
Price Action: Tata Motors’ share price was down 7.42% to trade at ₹1,015.30 just before market close on Monday.
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