Tata Motors sees a 27% jump in Jaguar Land Rover Q4 sales
Investing.com
Published Jan 08, 2024 10:52PM ET
Updated Jan 08, 2024 11:10PM ET
MUMBAI - Tata Motors (NYSE:TTM), the Indian automotive giant, has reported a robust 27% increase in wholesales for its luxury unit, Jaguar Land Rover (JLR), during the December quarter. This surge in sales marks JLR's highest wholesales in over two years, with the company successfully selling over 109,140 units.
The strong performance of Jaguar Land Rover has had a profound impact on Tata Motors' stock, which has seen a significant uptick. Investors have not only witnessed a near 10% rise in the company's share value over the past month but also a doubling in share value over the past year.
The enduring popularity of models such as the Range Rover and Defender has played a crucial role in driving demand and sales. Significant wholesale volume increases were seen: Range Rover Sport (49%), Range Rover (12%), Defender (14%). This sustained interest from consumers, coupled with a strong order book despite a slight quarter-on-quarter drop, has contributed to the company's positive sales trajectory.
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Written By: Investing.com
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