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Automobile major, Tata Motors' global wholesales including luxury car brand Jaguar Land Rover, rises by a whopping 48% in the quarter ending June 2022 (Q1FY23) period to 3,16,443 vehicles compared to the same quarter last year.
As per the regulatory filing, global wholesales of all Tata Motors commercial vehicles and Tata Daewoo range in the first quarter of FY23 were at 1,03,529 units higher by 97%, over Q1 of FY22.
In Q1FY23, global wholesale of all passenger vehicles stood at 2,12,914 units higher by 32% as compared to Q1 FY22.
Meanwhile, in the quarter under review, global wholesales for Jaguar Land Rover were at 82,587 vehicles ( JLR number for Q1FY23 includes CJLR volumes of 10,772 units). In terms of model-wise, Jaguar wholesales for the quarter were 14,596 vehicles, while Land Rover wholesales for the quarter were 67,991 vehicles.
On Thursday, Tata Motors announced that Jaguar Land Rover's retail sales in Q1FY23 were 78,825 vehicles, broadly flat (183 units lower) compared with the previous quarter ending 31 March 2022 and down 37% (46k units) from the quarter a year ago ending 30 June 2021. Compared to the prior quarter, retails were higher in the UK (+10%) and Europe (+49%) but were lower in China (-5%), North America (-30%) and Overseas (-10%) reflecting the transition to new models and delivery times to these markets.
Earlier this month, Tata Motors announced its June monthly and Q1FY23 sales data excluding Jaguar Land Rover sales.
On July 1, Tata Motors data revealed that total domestic sales jumped 2,25,828 units up by 110% in Q1FY23 compared to sales of 1,07,786 units in the same quarter last year. Meanwhile, total domestic passenger car sales skyrocketed by 102% in Q1FY23 to 1,30,125 units compared to 64,386 units in the corresponding period a year ago. Overall, domestic and international market sales stood at 2,31,248 vehicles, compared to 1,14,784 units during Q1 FY22.
Talking about wholesales, Ashwin Patil, Senior Research Analyst at LKP Securities said, "As Covid wave in China subsided in June and other markets too recovering gradually, JLR wholesales have bounced back well in Q1 FY23 by 48%. We need to wait and watch for such consistent volume performance amidst a good product launch pipeline."
In its report earlier, analyst at LKP Securities said, "Tata Motors is seeing a strong PV business, along with a very healthy revival in CVs and improvement in JLR business."
On BSE, Tata Motors shares ended at ₹440.15 apiece up by 2.17%. At the closing price, Tata Motors' market cap was around ₹1,46,169.96 crore.