Stuck in neutral? Tata Motors' upsides may sputter on demand worries

Automaker optimistic despite current roadblocks, banking on economic growth and government support to accelerate progress

Notwithstanding robust volume growth and a strong performance from Jaguar Land Rover (JLR), Tata Motors, the country’s second-largest automobile (auto) manufacturer by market capitalisation, disappointed the Street with its January-March quarter (Q4) results for 2023-24 (FY24).

While consolidated revenues saw a 13 per cent increase, lower-than-expected realisations in the Indian operations weighed down overall performance.

The commercial vehicle (CV) segment, representing 60 per cent of Indian auto business revenues, witnessed a mere 1.6 per cent growth, hampered by a 6 per cent decline in volumes. This decline was attributed to the high base in the year-ago quarter, driven by pre-buying