"Underlying demand for JLR products remains strong and the Company has proactively managed semiconductor supplies to maximise production of higher margin products," Tata Motors said in a filing.
Retail sales for the quarter ending 31 December 2021 were 80,126 vehicles, down 13.6% (12,600 units) from the preceding September quarter and 37.6% (48,300 units) from the same quarter a year ago.
Retails were lower across all regions compared to the preceding quarter, including China (-6.9%), Europe (-6.8%), North America (-11.8%), UK (-24.3%), and Overseas (-25.4%)
"Looking ahead, the chip shortage remains dynamic and difficult to forecast, however, we expect supply to continue to improve in Q4 of the fiscal year ending 31 March 2022," Tata Motors said.
Despite the impact of the semiconductor shortage on production and sales, the company said it continues to see strong demand for its products with global retail orders at record levels.
The total order book has grown to over 154,000 units, up about 30,000 orders from the prior quarter for the New Range Rover, while demand for the Land Rover Defender remains strong with about 36,000 orders.
On Wednesday, Tata Motors shares rose 1% to close at ₹506.30 on NSE.
“The New Range Rover is the embodiment of Jaguar Land Rover’s vision for Modern Luxury by Design. We are delighted that positive feedback at launch has led to a strong order intake for this first all new modern luxury model. Furthermore, the Land Rover Defender continues to contribute to a record order bank next to our all electric Jaguar I-PACE. Semi-conductor supply challenges continue within the industry but our wholesale volumes are improving. We look forward to completing delivery to global customers as supply improves in 2022," Lennard Hoornik, JLR chief commercial officer said.
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