Tata Motors' JLR Q1 retail sales up 29% in April-June 2023

• Tata Motors-owned Jaguar Land Rover reported retail sales of 1,01,994 units in the first quarter ended June 30.
  
• The growth reflects continuing improvement in chip and other supply constraints, Tata Motors said in a regulatory filing.
  
• The order book remained strong with over 1,85,000 client orders at quarter end, down from 2,00,000 at March 31, 2023, the company said.
  
• Shares of Tata Motors scaled a fresh 52-week high earlier in the day before shedding some of the gains to close the day up 3.7%.
  

Tata Motors-owned Jaguar Land Rover on Friday reported a 29% rise in retail sales in the first quarter ended June 30 at 1,01,994 units, as compared to the same period a year ago. The growth reflects continuing improvement in chip and other supply constraints, Tata Motors said in a regulatory filing.


Wholesales, excluding those of Chery Jaguar Land Rover China JV, were at 93,253 units in the first quarter, up 30% as compared to the year-ago period.


"The order book remained strong with over 1,85,000 client orders at quarter end, reducing from 2,00,000 at March 31, 2023 in line with expectations, as chip and other supply constraints continue to improve," the company said.


Range Rover, Range Rover Sport and Defender demand remains particularly strong, representing 76% of the order book, it added.


Shares of Tata Motors scaled a fresh 52-week high of ₹624.80 on the NSE earlier in the day before shedding some of the gains to close the day at ₹622.90, up 3.7%.


(With inputs from PTI)