Jaguar Land Rover Drives Tata Motors' Q1 Growth Amid Mixed Results

Tata Motors' luxury segment, Jaguar Land Rover, saw 5% sales growth in Q1 2024. However, global passenger vehicle sales declined by 1%. Commercial vehicle sales surged 6%, boosting overall growth by 2%. EV sales dropped significantly due to elections and heat waves.

Tata Motors' luxury segment, Jaguar Land Rover, reported a 5% increase in sales for the first quarter of 2024, marking a positive trend for the company. Specifically, 8,227 Jaguar vehicles and 89,528 Land Rover vehicles were sold this quarter.

Conversely, Tata Motors' global passenger vehicle sales experienced a 1% decline, with 1,38,682 units sold between April and June 2024. Despite this downturn, the overall sales across segments increased by 2%, totaling 3,29,847 units, driven by strong performance in the commercial vehicle segment, which grew by 6% to 93,410 units.

Domestic passenger vehicle sales, including electric vehicles, fell by 8% in June, selling 43,624 units. EV sales alone plummeted by 34% year-on-year for June and dropped 14% for the April-June quarter, attributed to general elections and unfavorable weather conditions.

(With inputs from agencies.)