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Mumbai: Tata Indica, the <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword>'s big passenger car bet, was not delivering expected returns a year into its launch. Desperate, the <keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="261" meta.entityid="Tata Motors">Tata Motors</keyword> brass, led by <keyword id="19981455" type="General" weightage="100" keywordseo="Ratan-Tata" source="keywords">Ratan Tata</keyword>, acceded to a meeting request from <keyword id="23121503" type="General" weightage="20" keywordseo="Ford-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Ford Motors" meta.hostid="261" meta.entityid="Ford Motors">Ford Motors</keyword> for a possible sale of the passenger vehicles division to the American auto major. Some people had advised Tata to sell the business, and the Ford officials came to Bombay House to hold talks. During the meeting at the Tata headquarters, the American company evinced interest in buying out the business after the not-so-warm response to the hatchback car for over a year since launch. Soon, top Tata officials, led by Ratan Tata, went to the US for a further meeting, which lasted about three hours. According to a person who attended the meeting, officials from Ford "humiliated" the visiting Indians at the meeting in Detroit. "You do not know anything, why did you start the passenger car division at all," the Ford officials told their guests, and spoke about doing a favour to the Indian company by buying out the latter's business. The team decided to return to India immediately after the meeting, which was described as "humiliating" by the person present. On the 90-minute flight taking them back to New York, a sombre Ratan Tata spoke very few words. "This was in 1999 and come 2008, the same Ford's <keyword id="19916884" type="General" weightage="20" keywordseo="JLR" source="keywords">JLR</keyword> was bought by us. Ford chairman Bill Ford thanked Tata, saying, 'You are doing us a big favour by buying JLR'," Pravin Kadle, a long-time group veteran, had recounted during a public event a few years ago. In 2008, the Tata Group bought the iconic brands from making sedans and sports utility vehicles in a USD 2.23-billion deal from Ford. Post-acquisition, the Tata Group has scripted one of the most fabulous turnarounds in the auto industry and has been able to position the marquee British brands as formidable entities in the fiercely competitive global car market. Even as Tata Motors has come a long way and gained market share in India, it continues to earn a significant part of its revenues from the JLR.

The Tata way of paying back humiliation: doing the 'favour' of 'buying out'

Luxury automaker <keyword id="6354362" type="General" weightage="20" keywordseo="jaguar-land-rover" source="Orion">Jaguar Land Rover</keyword> on Thursday reported record <keyword id="6357824" type="General" weightage="20" keywordseo="sales" source="Orion">sales</keyword> at 3,582 units for nine months ended December 31, 2023. The company said its sales rose 93 per cent year-on-year as compared to the April-December period of the last fiscal. <keyword id="91410" type="General" weightage="20" keywordseo="range-rover" source="Orion">Range Rover</keyword> and <keyword id="77523" type="General" weightage="20" keywordseo="defender" source="Orion">Defender</keyword> continue to lead with a year-on-year (YoY) rise of 250 per cent, contributing to over 75 per cent of the current <keyword id="240614" type="General" weightage="20" keywordseo="order-book" source="Orion">order book</keyword>, the automaker said. In the October-December quarter, the company reported a 74 per cent YoY growth, achieving retail sales of 1,226 units, it added. The newly launched Range Rover Velar witnessed a YoY sales growth of 183 per cent in the quarter, JLR said. "Over the past nine months, JLR's progress in India has been characterised by consistent and substantial growth. Each quarter has shown an impressive year-on-year surge of nearly 100 per cent," JLR India Managing Director Rajan Amba said. The burgeoning order bank and continuous order intake signal a robust demand, underscoring promising future prospects, he added. "...the eagerly awaited Range Rover BEV has generated significant interest among clients across the country, and with our upcoming launches this quarter, we are poised to sustain our remarkable growth trajectory in India," Amba said. The company's order book at the end of the third quarter remained strong with a YoY growth of 92 per cent, it stated. The current total order book covers more than eight months of sales and is seeing a consistent increase month-on-month, it added.

JLR reports best-ever sales at 3,582 units in April-December period

<keyword id="45218" type="General" weightage="20" keywordseo="jlr" source="Orion">JLR</keyword> India on Monday said it has recorded its best ever first quarter sales in the country in April-June 2023. The company said its retail sales rose 102 per cent to 1,048 units in the June quarter as compared with the same period last year. The performance was enabled by a phenomenal growth of 209 per cent in <keyword id="91410" type="General" weightage="20" keywordseo="range-rover" source="Orion">Range Rover</keyword>, Range Rover Sport and Defender sales, JLR India said in a statement. The three models continue to see sustained demand, contributing 78 per cent of the current order book, it added. "This performance is testament to the exceptional equity of the JLR brands and our class-leading collection of modern luxury vehicles. Backed by the growing demand among our discerning clients, our order book remains strong and growing, and we are excited and confident of our India story ahead," JLR India Managing Director Rajan Amba stated. JLR said its pre-owned business grew 137 per cent in the first quarter of the current fiscal. The company stated that it has an impressive line-up of product initiatives scheduled for the year, starting with the enhanced Range Rover Velar - bookings for which commenced recently. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/netweb-technologies-ipo-how-to-check-allotment-gmp-listing-date-and-more/articleshow/102068898.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/netweb-technologies-ipo-how-to-check-allotment-gmp-listing-date-and-more/articleshow/102068898.cms" target="_blank">Netweb Technologies IPO allotment – how to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/business/auto/news/the-ola-s1-air-is-the-affordable-offering-from-the-company-and-will-soon-go-on-sale-in-india/slidelist/102074223.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/the-ola-s1-air-is-the-affordable-offering-from-the-company-and-will-soon-go-on-sale-in-india/slidelist/102074223.cms" target="_blank">Ola S1 Air to hit Indian roads soon – price, features and everything you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-5-z-flip-5-galaxy-watch-series-6-and-more-set-to-launch-july-end/articleshow/101538049.cms">Samsung Galaxy Z Fold 5, Z Flip 5, Galaxy Watch Series 6 and more set to launch July-end</a>

JLR India reports highest ever first quarter sales

<ul><li><keyword id="1070850" type="General" weightage="20" keywordseo="tata-motors-owned-jaguar-land-rover" source="Orion">Tata Motors-owned Jaguar Land Rover</keyword> reported retail sales of 1,01,994 units in the first quarter ended June 30. </li><li>The growth reflects continuing improvement in chip and other supply constraints, Tata Motors said in a regulatory filing. </li><li>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. </li><li>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%. </li></ul> 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. <keyword id="91410" type="General" weightage="20" keywordseo="range-rover" source="Orion">Range Rover</keyword>, 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)

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

<ul><li>Tata Motors finally has a ‘BUY’ rating from CLSA after three years. </li><li>For the quarter ending in September, Jaguar Land Rover sold 128,953 cars, slightly down (-0.7%) compared to the same period a year ago.</li><li>Investors believe that the downtrend in sales may finally be coming to an end.</li><li>The expected stability in <keyword id="1159034" type="PERSON" weightage="20" keywordseo="JLR-sales">JLR sales</keyword> has given hope to many ancillary companies like tyres, batteries and other auto parts makers.</li></ul>Months of despair have given way to some good news from Tata Motors. It’s British luxury car unit Jaguar Land Rover’s sales seem to be stabilsing. At least, that’s what the street believes. After three years of having a ‘SELL’ rating, Tata Motors has finally been upgraded to ‘BUY’ rating by global broking firm CLSA. Tata Motors’ share price spiked over 13% after the company’s second-quarter earnings. 
 
 
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 Between July and September 2019, Tata Motors reported a net loss of ₹216.5 crore but that was still a massive improvement from the same quarter in the previous year⁠— when the loss was nearly five times more. For the quarter ending in September, Jaguar Land Rover retail sales nearly the same (down 0.7%) as a year earlier⁠— but the losses were less because the company had cut costs. Jaguar Land Rover saw a 24.3% jump in its sales in China, which is a big market for the company. “JLR’s volume is showing signs of bottoming-out on a low base in China and the ramp-up of the recently upgraded Evoque model—the start of defender sales in 4QFY20 should provide a further boost,” the CLSA report said. Earlier this year, global rating agencies Fitch Ratings and Moody’s both had downgraded Tata Motors with a negative outlook. In June 2019, Jaguar Land Rover retail sales was down by 9.6% as compared to the same month the previous year. In May 2019 too, the company had seen a 12% decrease as compared to the same month in the previous year. “Against challenging market headwinds, for the third consecutive month we have achieved double-digit growth in China, benefitting from our local turnaround plan and performing ahead of the broader market. We have also outperformed shrinking markets in other regions,” said Felix Brautigam, Jaguar Land Rover Chief Commercial Officer in a statement. JLR cheer is spreading The market excitement is visible not just with Tata Motors’ share price but that of many ancillary companies in the business. For the <keyword id="34478" type="PERSON" weightage="20" keywordseo="auto-industry">auto industry</keyword> which has been hit by a slowdown for a year now, the comeback of Tata Motors and JLR is a positive sign for many others. Stocks like Bharat Forge, Motherson Sumi, and Exide, which make parts for automobiles, are also celebrating what they believe is a light at the end of the tunnel. Motherson Sumi, the largest manufacturer of automotive wiring harnesses and mirrors for passenger cars, too saw its stock trading at a 10% jump on Tuesday afternoon. 
 
 
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 With the festive sales, the October report of the auto industry is also expected to finally get a sigh of relief for the players. New entrants like MG Hector delivered 700 cars on Dhanteras while luxury car Mercedes Benz delivered 600 cars on the festive day. “Passenger vehicle sales, which were in the doldrums since late last year, have shown positive sales trajectory this year in comparison to the off-take witnessed during Dhanteras 2018”, reported IANS. "In terms of passenger vehicle sales, we have witnessed a similar off-take pattern to last year's Dhanteras day," Vinkesh Gulati, Vice President of the Federation of Automobile Dealers Associations (FADA) told IANS.

You Searched For "jlr sales" and got 5 results

The Tata way of paying back humiliation: doing the 'favour' of 'buying out'

PTI

JLR reports best-ever sales at 3,582 units in April-December period

PTI

JLR India reports highest ever first quarter sales

PTI

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

BI India Bureau

Not just Tata Motors, a lot of other companies are excited by Jaguar Land Rover numbers

Sanchita Dash

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