Tata Motors gains 6% after JLR March quarter retail sales jump 12.4% y-o-y1 min read . Updated: 13 Apr 2021, 04:09 PM IST
- While sales of Jaguar declined by 17.1% to 23,463 units, Land Rover sales jumped 22.6% to 100,020 units in Q4FY21 over Q4FY20.
Shares of Tata Motors rose as much as 6.25% after the company announced that Jaguar Land Rover achieved retail sales of 123,483 vehicles in March 2021 quarter, 12.4% higher than the same quarter last year.
At 3.15 pm, Tata Motors was trading at Rs302.10 up 5.41% from its previous close, while the benchmark index, Sensex gained 1.42% to 48,561.28.
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While sales of Jaguar declined by 17.1% to 23,463 units, Land Rover sales jumped 22.6% to 100,020 units in Q4FY21 over Q4FY20.
China sales were up 127% compared with a year ago when that market was heavily impacted by covid-19. Sales in North America were also up year-on-year (y-o-y) (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 totalled 439,588 vehicles, which is lower by 13.6% as compared with 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.
Tata Motors reported a 67.2% rise in its consolidated net profit to Rs2,906.45 crore for the December 2020 quarter, compared with a profit of Rs1,738.30 crore a year earlier. Net sales rose 5.4% to Rs75,654 crore for the quarter ending December 2020 from Rs71,676 crore for the same quarter last year.
Jaguar Land Rover is a wholly owned subsidiary of Tata Motors, part of the Tata group, and is a global manufacturer of cars, utility vehicles, pick-ups, trucks and buses.
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