Global wholesale prices rise 2%; stocks close on a green note

Tata Motors on Monday (July 8) announced its global wholesale sales for Q1 FY25, via an exchange filing. In Q1, the company reported a 2 percent (YoY) increase in its global sales for the quarter ended June 30, 2024.

The company reported strong growth in its commercial and passenger car segments, as well as in its luxury brands Jaguar and Land Rover.

Commercial vehicles

In the commercial segment, Tata Motors, including the Tata Daewoo range, reported global wholesale sales of 93,410 units in the first quarter of fiscal 2025, up 6 percent compared to the same period last year, the company said in its regulatory filing.

Passenger cars

However, in the passenger vehicle segment, the company saw a slight decline. Global wholesale sales of passenger vehicles stood at 138,682 units, down 1 percent compared to Q1 FY24.

Jaguar Landrover

Tata Motors’ luxury car division Jaguar Land Rover (JLR) reported a 5 percent increase in global wholesale sales to a total of 97,755 units.

Additionally, Jaguar sold 8,227 vehicles in the quarter, while Land Rover sold 89,528 vehicles, the company said in its filing.

Retail sales

Retail sales for Q1 FY25 reached 111,180 units, up 9 percent year-on-year. This includes sales from the Chery Jaguar Land Rover China JV.

Additionally, retail sales in key markets showed significant increases, including a 43 percent increase in North America, a 14 percent increase in the United Kingdom and a 4 percent increase in Europe.

QoQ comparison

Comparing Q1 FY25 with the previous quarter ended March 31, 2024, there was an 11 percent decline in wholesale volumes and a 3 percent decline in retail sales.

Stock market reaction

Tata Motors shares closed at Rs 1,002.90 at 3.30 pm on Monday, up 0.93 per cent.

Published: Monday, July 8, 2024, 5:21 PM IST