Tata Motors gains after JLR Q4 retail sales jump 12.4% YoY

Tata Motors rose 3.61% to Rs 296.95 after the company announced that Jaguar Land Rover achieved retail sales of 123,483 vehicles in Q4 March 2021, 12.4% higher than the same quarter last year.

While sales of Jaguar declined by 17.1% to 23,463 units, Land Rover sales jumped 22.6% to 100,020 units in Q4 March 2021 over Q4 March 2020.

China sales were up 127% compared to a year ago when that market was heavily impacted by COVID-19. Sales in North America were also up year-on-year (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 totaled 439,588 vehicles, which is lower by 13.6% as compared to 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.

Felix Brautigam, chief commercial officer, Jaguar Land Rover, said: "While the COVID-19 pandemic has an ongoing impact on the global auto industry, I am pleased to end the financial year with sales up year-on-year in the last quarter.

Encouragingly, the steady recovery throughout the year follows the direction of our Reimagine strategy: the quality of our sales improved even more than the volume, with a focus on our most profitable car lines, higher specifications and lower incentives. Despite very different COVID restrictions worldwide we also achieved our objective of balanced sales across our key markets.

Jaguar Land Rover is the UK's largest automotive manufacturer. As a wholly owned subsidiary of Tata Motors since 2008, Jaguar Land Rover has unrivalled access to leading global players in technology and sustainability within the wider Tata Group.

Tata Motors, part of the Tata group, is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses.

On a consolidated basis, Tata Motors' net profit surged 64.9% to Rs 3,222.21 crore on 5.4% rise in net sales to Rs 74,878.98 crore in Q3 FY21 over Q3 FY20. The luxury brand JLR brings in most of Tata Motor's revenue.

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