New Delhi: Tata Motors Group on Friday said its global wholesales in Q1 FY23, including Jaguar Land Rover, were at 3,16,443 units, up 48%, compared to Q1 FY22when it had dispatched 2,14,250 units to dealers.
Global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range in 01 FY23 were at 1,03,529 units, marking a growth of 97%, over Q1 FY22.
Global wholesales of all passenger vehicles in Q1 FY23 were at 2,12,914 units, higher by 32% compared to Q1 FY22. Global wholesales for Jaguar Land Rover were 82,587 vehicles.
The company noted that the JLR sales for Q1 FY23 included CJLR volumes of 10,772 units. Jaguar wholesales for the quarter were at 14,596 vehicles, while Land Rover wholesales for the quarter were at 67,991 vehicles.
Also Read:
Going forward, while the demand in urban areas remains robust, the rural segment is slowly witnessing improvement, however two- wheelers continued to remain under pressure in June 2022. Reliance Securities, a retail broking firm, expects the industry volume to improve gradually every month over the next 3-4 months backed by favourable monsoon-led rural recovery and festival season kicking in Q2 FY23.
In the Indian market too, Tata Motors said it faces strong competition from domestic and foreign automobile manufacturers. “Improving infrastructure and growth prospects in India, compared to those of other mature markets, have attracted a number of international companies to India, either through joint ventures with local partners or through independently owned operations in India,” it said.