Tata Motors share price hits lifetime high soaring 4% on strong JLR sales performance | Business Upturn

Tata Motors share price hits lifetime high soaring 4% on strong JLR sales performance

Impressive Jaguar-Land Rover sales drive Tata Motors shares to new heights.

Tata Motors, the Indian automotive giant, witnessed a remarkable surge in its share price on Friday as it hit a record high, jumping nearly 4%. The surge was fueled by the company’s robust performance in Jaguar-Land Rover (JLR) sales during the quarter ending June 2023. Throughout the day, Tata Motors shares rallied as much as 3.96%, reaching an all-time high of ₹624.65 apiece on the Bombay Stock Exchange (BSE).

Jaguar-Land Rover, the luxury subsidiary of Tata Motors, reported a noteworthy 30% year-on-year growth in wholesale volumes, reaching 93,253 units (excluding the Chery Jaguar Land Rover China JV) for the April-June quarter. While wholesales experienced a marginal 1% sequential decline due to shipping schedules, production witnessed a positive quarter-on-quarter increase, as stated by the company in an exchange filing.


In terms of retail sales, JLR saw a substantial 29% YoY rise, reaching 101,994 units (including the Chery Jaguar Land Rover China JV). Comparing the figures to the previous year, retail volumes were higher in various regions, including Overseas (up 83%), North America (up 42%), China (up 40%), and the UK (up 6%). Retail volumes remained stable in Europe (0%), Tata Motors reported.

Among the models, retail sales of the three most profitable vehicles exhibited significant growth compared to the same quarter last year, with the Range Rover up by an impressive 199%, Range Rover Sport up by 42%, and Defender up by 90%.

Tata Motors stated, “The order book remained strong with over 185,000 client orders at quarter-end, reducing from 200,000 at 31 March 2023 in line with expectations, as chip and other supply constraints continue to improve.” The demand for Range Rover, Range Rover Sport, and Defender models remained particularly robust, accounting for 76% of the order book. Furthermore, based on preliminary cash balances, JLR expects to report positive free cash flow of over £400 million in the quarter.

By the end of trading on Friday, Tata Motors shares had closed 2.94% higher at ₹618.45 apiece on the BSE, reflecting the investors’ optimism and confidence in the company’s strong performance in the luxury vehicle segment, particularly with the impressive sales figures reported by Jaguar-Land Rover.