Rising domestic demand and JLR sales driving Tata Motors to a robust Q4., ET Auto

New Delhi: Tata Motors is revving up its engines with the robust results of Q3 FY24 and a prime performance in January. The company’s market capitalization is well-placed, fueled by a surge in wholesale numbers.

In January 2024, Tata Motors sold 86,125 vehicles globally, up from 81,069 units in the same month last year. Domestically, the company saw a 6% spike, reaching 84,276 units compared to 79,681 in January 2023.

PV sales, including electric cars, in the domestic market, were at 54,033 units in January 2024, a 12% Y-o-Y increase from 48,289 units sold in the similar month last year. The company sold 6,979 electric cars in Jan’24 with a Y-o-Y increase of 69% compared to 4,133 electric cars sold in Jan’23.

The financial report for the December quarter revealed a substantial leap in net profit for Tata Motors, reaching INR 7,100 crore, an increase of 133.32% from the same period the previous year.

Jaguar Land Rover (JLR), Tata Motors’ UK subsidiary, shone in the third quarter to December 31, 2023, with a 27% Y-o-Y increase in vehicle sales, hitting 101,043 units—the highest in 11 quarters. JLR, contributing two-thirds to Tata Motors’ revenue, witnessed a 22% uptick in revenue during the same quarter.

For the FY’24 so far, total sales for JLR reached 291,113 units, a 28% growth. The order book stands at 148,000 units by the end of the third quarter. Notably, the Range Rover, Range Rover Sport, and Defender models collectively accounted for 76% of these orders.

Tata Motors seems set to accelerate into the coming quarter, backed by strong domestic sales and the impressive performance of JLR.

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