Tata Motors rose 3.61% to Rs 296.95 after the company announced that Jaguar Land Rover achieved retail sales of 123,483 vehicles in Q4 March 2021, 12.4% higher than the same quarter last year.
While sales of Jaguar declined by 17.1% to 23,463 units, Land Rover sales jumped 22.6% to 100,020 units in Q4 March 2021 over Q4 March 2020.
China sales were up 127% compared to a year ago when that market was heavily impacted by COVID-19. Sales in North America were also up year-on-year (up 10.4%), while other regions remain lower than pre-COVID levels, including Overseas markets (down 10%), the UK (down 6.8%) and Europe (down 4.9%).
For the full fiscal year 2020-21, Jaguar Land Rover global retail sales totaled 439,588 vehicles, which is lower by 13.6% as compared to the previous year as a result of the impact of the pandemic.
Growth in China was strong, with retails reaching 111,206 vehicles, up 23.4% year-on-year. Sales in other regions have not yet recovered to pre-COVID levels with North America down 14.3% and the UK, Europe, and Overseas markets each down more than 20%.
The company's Jaguar sales dropped by 30.5% to 97,669 units while the sales of Land Rover declined by 7.1% to 341,919 units in the fiscal year 2020-21 compared with the fiscal year 2019-20.
Felix Brautigam, chief commercial officer, Jaguar Land Rover, said: "While the COVID-19 pandemic has an ongoing impact on the global auto industry, I am pleased to end the financial year with sales up year-on-year in the last quarter.
Encouragingly, the steady recovery throughout the year follows the direction of our Reimagine strategy: the quality of our sales improved even more than the volume, with a focus on our most profitable car lines, higher specifications and lower incentives. Despite very different COVID restrictions worldwide we also achieved our objective of balanced sales across our key markets.
Jaguar Land Rover is the UK's largest automotive manufacturer. As a wholly owned subsidiary of Tata Motors since 2008, Jaguar Land Rover has unrivalled access to leading global players in technology and sustainability within the wider Tata Group.
Tata Motors, part of the Tata group, is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses.
On a consolidated basis, Tata Motors' net profit surged 64.9% to Rs 3,222.21 crore on 5.4% rise in net sales to Rs 74,878.98 crore in Q3 FY21 over Q3 FY20. The luxury brand JLR brings in most of Tata Motor's revenue.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU