Tata Motors global wholesales rise 8% in Q4 FY24, passenger vehicle sales up 15%
Upstox
2 min read • Updated: April 10, 2024, 7:51 PM
Summary
Tata Motors reported an increase in global wholesales to 377,432 units with an 8% YoY growth in Q4 FY24. Passenger vehicle wholesales rise up to 15% YoY to 155,651 units. This surge is influenced by strong demand for Jaguar Land Rover vehicles (up by 16% YoY to 110,190 units). On the other hand, commercial vehicles wholesales declined by 6% YoY to 111,591 units.
Tata Motors, an Indian multinational automotive company, has announced an 8% year-on-year (YoY) increase in global wholesales for the fourth quarter of financial year 2024 (Q4 FY24). The company sold a total of 377,432 units during the quarter, showing a positive performance across key segments.
Passenger vehicle (PV) wholesales emerged as a strong growth driver for Tata Motors in Q4 FY24, with a 15% YoY increase to 155,651 units. This growth can be attributed to a 16% YoY surge in wholesales to 110,190 units during this quarter for the constant popularity of Jaguar Land Rover vehicles.
Jaguar Land Rover, a subsidiary of Tata Motors, continued to show its growth momentum in Q4 FY24. The iconic British carmaker's wholesales increased by 16% YoY to 110,190 units. This excludes those from the joint venture with Chery Automobiles in China.
Meanwhile, Tata Motors' commercial vehicle wholesales (including those from Tata Daewoo) declined by 6% YoY to 111,591 units.
Tata Motors' overall performance in Q4 FY24 remained positive despite the decline in commercial vehicle wholesales. The company’s strong performance in the passenger vehicle segment helped offset the decline in commercial vehicle sales.
Tata Motors reported a consolidated net profit of ₹3,764 crore in Q3 FY24, as compared to a net loss of ₹944.61 crore in Q3 FY23. During the same quarter, the company's revenue from operations grew by 32.5% YoY to ₹1,04,443.06 crore.