While global CV wholesales at 97,956 units were lower by 5% YoY, passenger vehicles at 224,600 units were higher by 23% YoY; Tata Motors’ 132,255 units up 33%; JLR wholesales rise as chip supplies improve; total order book increases to 215,000 client orders
The Tata Motors Group's global wholesales in Q3 FY2023 (October-December 2022), including Jaguar Land Rover, were at 322,556 units higher by 13% as compared to Q3 FY2022.
Global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range in Q3FY23 were at 97,956 units, lower by 5%, over Q3 FY2022.
Global wholesales of all passenger vehicles comprising both Tata Motors and Jaguar Land Rover in Q3 FY2023 were at 224,600 units, higher by 23% as compared to Q3 FY2022. Tata Motors, which recorded its best-ever annual sales of 526,798 units and 59% YoY growth in CY2022, registered wholesales of 132,255 units in Q2 FY2023, up 32.8% (Q3 FY2022: 99,564).
JLR wholesales rise as chip supplies improve
Jaguar Land Rover reported increased wholesale volumes for the third quarter of FY2023, reflecting gradual improvement in chip supplies.
Wholesale volumes were 79,591 units in the period (excluding the Chery Jaguar Land Rover China joint venture’s 12,754 units), up 5.7% compared to the prior quarter ending 30 September 2022 and 15.0% compared to the same quarter a year ago. Compared to the prior quarter, wholesale volumes were higher in North America (+17%), UK (+13%) and Overseas (+10%) and lower in China (-13%) and Europe (-3%). Volumes in China were impacted by Covid.
The production ramp up of New Range Rover and New Range Rover Sport continued with 27,456 units wholesaled in the quarter, up from 13,537 in Q2.
Retail sales for the third quarter were 84,827 units, up 5.9% compared to the same quarter a year ago and 3.7% lower than from the prior quarter ending 30 September 2022, reflecting timing between retails and wholesales.
Jaguar Land Rover continues to see strong demand for its vehicles. As of December 31, 2022, the total order book increased to 215,000 client orders. Demand for the New Range Rover, New Range Rover Sport and Defender remain strong and represent 74% of the order book.
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