Tata Motors shares dropped more than 3% in morning trade after the company’s owned Jaguar Land Rover reported a three per cent decline in retail sales at 1,03,108 units in the second quarter of the current fiscal (Q2FY25) compared to the year-ago period on Monday, October 7.
Retail sales of the automaker’s British luxury vehicle unit in the first six months of the financial year were 2,14,288 units, up 3% year on year (YoY).
JLR’s Q2 FY25 production was limited to 86,000 units, a 7% decrease from 93,000 units the previous year, due to aluminum supply challenges reported in Q1 FY25.
Wholesale volumes of 87,303 units in the second quarter of the financial year (excluding the Chery Jaguar Land Rover China JV) were 10% lower than the same period a year earlier owing to restricted aluminum supply.
As of 9:35 am, Tata Motors shares were trading 2.95% lower at Rs 900.45 on the NSE.
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