Tata Motors reports growth in passenger vehicle global wholesales in Q1 FY24
Tata Motors Group has announced a 5% year-on-year increase in global wholesales for Q1 FY24, which includes the sales of Jaguar Land Rover, totalling 322,159 units.
However, the group witnessed a decrease in its commercial vehicle and Tata Daewoo range sector, with global wholesales at 88,456 units, marking a 15% reduction compared to Q1 FY23.
Despite the downturn in commercial vehicles, Tata Motors observed an uptick in its passenger vehicle global wholesales for Q1 FY24. The numbers rose to 140,450 units, an 8% increase compared to the same period in the previous fiscal year.
Tata Motors Group Q1 FY24 global wholesales rise, witnessing 5% increase year-on-year. Photo courtesy of Tata Motors.
Jaguar Land Rover, the British multinational automotive company owned by Tata Motors, contributed a significant 93,253 vehicles to the global wholesales for the quarter. Of these, Jaguar accounted for 10,324 vehicles, while Land Rover had a more substantial contribution with 82,929 vehicles wholesaled for the quarter.
The wholesale figures from the Tata Motors Group demonstrate a pattern of strong growth in passenger vehicles, contrasting with a decline in the commercial vehicle sector. As the company moves forward in FY24, it will be interesting to see how these trends evolve.