Tata Motors Q4 update: Jaguar Land Rover’s retail sales surge 81%; Range Rover, Defender brands drive growth

The global wholesales of Tata Motors’ passenger vehicles, encompassing electric vehicles as well, during Q4 FY24 stood at 155,651 units, reflecting a significant 15 per cent surge compared to Q4 FY23, according to a statement released by the company.

Also read: Q4 Results Preview: Auto companies to post stronger earnings led by PV, 2W/3W; TVS Motors, Tata Motors to lead the pack

Jaguar Land Rover (JLR), a subsidiary of Tata Motors, announced a remarkable 81 per cent increase in retail sales in India for FY24, with a total of 4,436 units sold. This surge represents one of the company’s most robust performances since its introduction to the Indian market in 2009, marking its highest sales figures in the last five years.

According to a statement from JLR, retail sales of SUVs, including the Range Rover and Defender, surged again, with a year-on-year increase of 160 per cent and 120 per cent, respectively. Moreover, the company noted a 50 per cent growth for the newly launched 2024 model of the Discovery Sport and a 55 per cent increase for the Range Rover Evoque, both on an annual basis.

“We remain confident in our strategy and vision for the years to come. The positive gains we have made in the last year across our product segments, but particularly the Range Rover and Defender brands, reflect the growing demand for high-quality premium luxury vehicles in India,” said Rajan Amba, Managing Director at JLR India.

Also read: Q4 Results Preview: Pre-sales to moderate on new launch delays, says Motilal; picks Prestige Estates, Sobha, Godrej Prop

Over the past year, JLR India achieved a string of retail sales milestones, culminating in a robust year-end position for the fiscal year ending on March 31, 2024, he added.

JLR reported a 28 per cent year-on-year growth in its certified pre-owned business during the same period last year. Additionally, total retail sales for the fourth quarter reached 854 units, marking a substantial 43 per cent increase compared to the previous year, as stated by JLR.

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Published: 10 Apr 2024, 05:39 PM IST