Jaguar Land Rover reports 22 pc rise in retail sales in FY24

New Delhi: Tata Motors-owned Jaguar Land Rover on Monday reported a 22 per cent year-on-year increase in its retail sales at 4,31,733 units for the fiscal ended March 31, 2024.

During the last fiscal, the company’s wholesales rose 25 per cent to 4,01,303 units against 2022-23 financial year, Tata Motors said in a regulatory filing.

The wholesale volumes and retail sales of the UK-based automaker were higher in all regions when compared to the preceding year, it added.

Jaguar Land Rover (JLR) wholesales in the fourth quarter stood at 1,10,190 units, up 16 per cent as against it was a year ago.

According to their press release retail sales for the fourth quarter were 114,038 units (including the Chery Jaguar Land Rover China JV), up 11% compared to the same quarter a year ago and up 4% compared to the quarter ended 31 December 2023. Compared to the prior year, retail sales in the quarter were up 32% in the UK, 21% in North America, and 16% Overseas. Compared to the prior year, retail sales in China were down 9% and down 2% in Europe for the quarter.

For the full year ended 31 March 2024, wholesale volumes were 401,303 and retail sales were 431,733, up 25% and 22% respectively compared to the prior year; wholesale volumes and retail sales were up in all regions compared to the prior year.

Retail sales in China and Europe fell 9 per cent and 2 per cent, respectively in the fourth quarter over FY23.

Shares of Tata Motors settled 0.59 per cent higher at Rs 1,012.95 apiece on the BSE.