Tata Motors-owned Jaguar Land Rover (JLR) on Wednesday (January 8) reported a mixed performance for Q3 FY25. Wholesale volumes increased by 3% year-on-year (YoY) to 1,04,427 units, reflecting a recovery from prior supply disruptions, while retail sales declined 3% YoY to 1,06,334 units.
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“Wholesale volumes of 104,427 units in the third quarter of FY25 (excluding the Chery Jaguar Land Rover China JV) were up 3% compared to the same quarter a year ago and up 20% compared to the prior quarter ended 30 September 2024,” Tata Motors said in a regulatory filing.
Wholesales showed a strong 20% sequential rise from Q2 FY25. Notable gains were observed for JLR’s flagship models, with Range Rover up 22%, Range Rover Sport up 17%, and Defender up 13% YoY. The overall mix of these high-margin models grew to 70% of total wholesale volumes.
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Regionally, North America and Europe recorded wholesale growth of 44% and 6% YoY, respectively. However, declines were noted in China (-38%), the UK (-17%), and other overseas markets (-1%).
“Compared to the prior year, wholesale volumes were higher in North America (+44%) and Europe (+6%), and lower in China (-38%), the UK (-17%) and Overseas (-1%). Wholesale volumes for the financial year to date were 289,485, down 1% compared to the prior year,” Tata Motors said.
Retail sales for the financial year-to-date (YTD) stood at 3,20,622 units, up 1% from the prior year, while YtD wholesales totalled 2,89,485 units, a slight 1% decline over the year-ago period.
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“Retail sales of 106,334 units in the third quarter (including the Chery Jaguar Land Rover China JV) were down 3% compared to Q3 FY24 and up 3% compared to Q2 FY25. Retail sales for the financial year to date were 320,622, up 1% compared to the prior year,” it said.
The most profitable models — Range Rover, Range Rover Sport, and Defender — accounted for 70% of JLR’s total wholesale volumes in Q3 FY25.
Demand for the Range Rover was particularly robust, with wholesale volumes rising 48% sequentially compared to Q2 FY25, driven by the resolution of temporary supply chain disruptions. Additionally, Range Rover volumes increased by 22% YoY, reflecting sustained strong demand.
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Full financial results for the quarter will be announced at the end of January, 2025. Shares of Tata Motors Ltd ended at ₹794.85, up by ₹1.45, or 0.18%, on the BSE.