Tata Motors announced, on April 10, a remarkable 8 percent growth in total global wholesale sales, reaching 377,432 units in the fourth quarter ending March 31, 2024, compared to the corresponding period last year.
Specifically, Tata Motors reported that global volumes of its passenger vehicles, including electric vehicles, during Q4 FY24 stood at 155,651 units, reflecting a significant 15 percent growth compared to Q4 FY23, according to a statement released by the company.
Also read: Q4 results preview: Auto companies 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, has announced a remarkable 81 percent increase in retail sales in India for FY24, with a total of 4,436 units sold. This growth represents one of the company’s strongest 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, increased again, with year-on-year increases of 160% and 120% respectively. Additionally, the company noted a 50% increase for the recently launched 2024 model of the Discovery Sport and a 55% increase for the Range Rover Evoque, both on an annualized basis.
“We remain confident in our strategy and vision for the coming years. 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 premium premium luxury vehicles in India, said Rajan Amba, Managing Director at JLR India.
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Over the past year, JLR India has achieved a series of retail sales milestones, culminating in a strong year-end position for the fiscal year ending March 31, 2024, he added.
JLR reported 28% year-on-year growth in its certified pre-owned business over the same period last year. Additionally, total retail sales for the fourth quarter reached 854 units, marking a substantial increase of 43% compared to the previous year, as stated by JLR.
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Published: 10 Apr 2024, 17:39 IST