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Tata Motors in demand after global wholesales rise 1% YoY in Q3

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Tata Motors rose 2.88% to Rs 244.65 after the Tata Motors Group global wholesales in Q3 FY21, including Jaguar Land Rover, stood at 2.78 lakh units, recording a 1% year-on-year (Y-o-Y) compared with Q3 FY20.

Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in Q3 FY21 were at 90,365 units, falling 4% year-on-year (Y-o-Y) over Q3 FY20. Global wholesales of all passenger vehicles (PV) in Q3 FY21 stood at 1.88 lakh units, rising 4% Y-o-Y as against Q3 FY20.

Global wholesales for Jaguar Land Rover were at 1.19 lakh units (JLR number for Q3 FY21 includes CJLR volumes of 17,078 units) while Jaguar wholesales for the quarter stood at 22,466 vehicles and Land Rover wholesales for the quarter at 97,192 vehicles.

Meanwhile the media on 12 January 2021 reported that Tata Motors was set to enter into a partnership with Tesla and that the electric vehicle giant may even take a stake in its passenger vehicle (PV) business.

Referring to the media reports, Tata Motors on 12 January 2021 clarified to the bourses that it had not taken any decision regarding a strategic partner for its PV business and categorically denied all rumors suggesting the same.

Tata Motors reported a consolidated net loss of Rs 343.28 crore in Q2 FY21 as compared to a net profit of Rs 175.76 crore in Q2 FY20. Net sales during the quarter declined 18.4% year-on-year (Y-o-Y) to Rs 52,839.02 crore.

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

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, January 13 2021. 09:38 IST