During the quarter, the retail sales grew by 9% YoY to 111,180 units (including the Chery Jaguar Land Rover China JV).

The company said that the wholesales of Range Rover & Range Rover Sport models increased by 22% YoY and 46% YoY in Q1 FY25, due to the new body shop increasing production capacity in Solihull, West Midlands.

The overall mix of the most profitable Range Rover, Range Rover Sport and Defender models increased to 68% of total wholesale volumes, as part of the company’s focus on value within its Reimagine strategy.

Compared to the prior year, retail sales in the quarter were up 43% in North America, 14% in the UK and 4% in Europe.

Sequentially, whole sale volumes and the retail sales declined by 11% and 3% respectively, reflecting the cyclical fluctuation in volumes between Q4 and Q1.

Tata Motors, part of the Tata group, is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses.

The company reported a consolidated net profit of Rs 17,528.59 crore in Q4 FY24, steeply higher from Rs 5,496.04 crore posted in Q4 FY23. Revenue from operations increased 13.52% YoY to Rs 1,19,213.35 crore in the quarter ended 31 March 2024.

The scrip fell 0.54% to settle at Rs 993.70 on Friday, 5 July 2024.