Tata Motors registers 8% jump in Jan-Mar quarter group global wholesales

Leading global automobile maker Tata Motors Ltd. has said that it has recorded an 8 per cent increase in its global wholesale vehicle sales business in the March quarter of FY2023 despite recession fears and the weak purchasing power of customers. 

In an exchange filing to bourses on Friday, the auto major said Tata Motors Group global wholesales in the January-March quarter of FY23, including Jaguar Land Rover, were up by 8 per cent at  3,61,361 units as compared to Q4 FY22. It added that global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range in Q4 FY23 were lower by 3 per cent at 1,18,321 units over Q4 FY22. 

Global wholesales for Jaguar Land Rover were at 1,07,386 units in the last quarter of FY23, which included CJLR volumes of 12,737 units). Jaguar wholesales for the quarter were 15,499 vehicles, while Land Rover wholesales for the quarter were 91,887 vehicles. 

It noted that the global car business is seeing a downslide phase in the wake of rising loan rates and the consequent weakening purchasing power among customers. 

On the home front, Tata Motors emerged as the leader in the fast-growing sports utility vehicle segment, despite registering increased competition from other SUVs. It noted that it registered high demand for best-selling models Punch and Nexon in the recently concluded fiscal. 

As per industry estimates, sales of sports utility vehicles at Tata Motors rose 58% to 357,249 units, Mahindra & Mahindra (M&M) was second selling 354,712 units in the segment during the year, a report in ET said. 

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