In Q1 FY2023, Tata Motors worldwide wholesales saw a record 48 percent increase in share price

According to the regulatory filing, global wholesales of all Tata Motors commercial vehicles including the Tata Daewoo line were 1,03,529 units in the first quarter of FY23, up 97% from the same period in FY22.

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When compared to the same quarter last year, Tata Motors, a major automaker, had a staggering 48 percent increase in its global wholesales, which includes premium automaker Jaguar Land Rover.

According to the regulatory filing, global wholesales of all Tata Motors commercial vehicles including the Tata Daewoo line were 1,03,529 units in the first quarter of FY23, up 97% from the same period in FY22.

Global wholesale sales of all passenger vehicles were 2,12,914 units in Q1 FY23, up 32% from Q1 FY22.

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In the meantime, Jaguar Land Rover sold 82,587 automobiles worldwide in the quarter under review ( JLR number for Q1FY23 includes CJLR volumes of 10,772 units). Jaguar sold 14,596 vehicles at wholesale during the third quarter, while Land Rover sold 67,991 vehicles at wholesale.

According to data released by Tata Motors on Thursday, retail sales of Jaguar Land Rover vehicles were 78,825 in Q1FY23, roughly flat (183 units lower) compared to the quarter that ended on March 31, 2022, and down 37% (46k units) from the quarter that ended on June 30, 2021. Retail sales increased in the UK (+10%), Europe (+49%), and Overseas (-10%) compared to the previous quarter, but declined in China (-5%), North America (-30%), and China (-10%), indicating the adoption of new models and longer delivery delays to these countries.

Tata Motors released its June monthly and Q1FY23 sales numbers earlier this month, omitting sales of Jaguar Land Rover.

According to figures released by Tata Motors on July 1, overall domestic sales increased by 110 percent, or 2,25,828 units, in Q1FY23 compared to sales of 1,07,786 units in the same quarter previous year. In the meantime, overall domestic passenger car sales soared by 102% in Q1FY23 to 1,30,125 units from 64,386 units in the same quarter a year earlier. Sales of automobiles in the domestic and overseas markets combined totaled 2,31,248 units, up from 1,14,784 units in Q1 FY22.

In its report, an analyst at LKP Securities said, “Tata Motors is seeing a strong PV business, along with a very healthy revival in CVs and improvement in JLR business.”

Tata Motors shares on the BSE ended the day at 440.15 each, up 2.17 percent. Tata Motors’ market value was around Rs 1,46,169.96 crore at the closing price.