News: In a regulatory filing, Tata Motors has informed exchanges that its overseas subsidiary i.e. JLR has reported wholesale sales volume of 1.01 lakh units for Q3FY23 (up 27% on YoY, 4% on QoQ basis). These are excluding China JV sales numbers. Wholesale volumes for JLR’s top three best-selling models for the third quarter were up 49% for Range Rover Sport, 12% for Range Rover and 14% for Defender (YoY basis).
Views: Retail sales in Q3 FY24 were 109,140, up 29% YoY and up 2% QoQ. Wholesale volumes at JLR fell short of expectations (~1.05-1.06 lakh units) amidst management commentary of H2>H1. Pending orderbook at JLR stands reduced from 168k units as of Q2FY24 end to 148k units as of Q3FY24 end.
ICICI Securities Ltd. ( I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Centre, H. T. Parekh Marg, Churchgate, Mumbai - 400020, India, Tel No : 022 - 2288 2460, 022 - 2288 2470.I-Sec is a SEBI registered with SEBI as a Research Analyst vide registration no. INH000000990.. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. The information mentioned herein above is only for consumption by the client and such material should not be redistributed.
The information contained herein is strictly confidential and meant solely for the selected recipient and may not be altered in any way, transmitted to, copied or distributed, in part or in whole, to any other person or to the media or reproduced in any form, without prior written consent of ICICI Securities Limited. The contents of this mail are solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments or any other product. While due care has been taken in preparing this mail, I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any inaccurate, delayed or incomplete information nor for any actions taken in reliance thereon. This mail is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject I-Sec and affiliates to any registration or licensing requirement within such jurisdiction
