Tata Motors’ JLR Q3 FY25 Report: Wholesales Surge 3%, Range Rover Models Lead the Way

Tata Motors’ luxury vehicle subsidiary Jaguar Land Rover (JLR) reported a 3% year-over-year (YoY) increase in wholesale volumes to 104,427 units in the third quarter of FY25. However, the company also noted a 3% drop in retail sales, which stood at 106,334 units during the same period, as per a regulatory filing.

Retail sales for the financial year to date reached 320,622 units, showing a slight 1% YoY increase, indicating a steady performance across key markets.

Wholesale Gains Led by Flagship Models

JLR’s flagship models—Range Rover, Range Rover Sport, and Defender—accounted for a significant 70% of total wholesale volumes. These models showed impressive year-on-year growth:

• Range Rover: +22%
• Range Rover Sport: +17%
• Defender: +13%

Wholesale volumes for these models surged further in the reporting quarter, with the Range Rover seeing a 48% jump compared to Q2 FY25, driven by the resolution of supply chain challenges and continued strong demand.

Regional Performance

JLR’s wholesale volumes varied significantly across regions in Q3 FY25:

• North America: +44%
• Europe: +6%
• China: -38%
• UK: -17%
• Overseas Markets: -1%

For the financial year to date, total wholesale volumes stood at 289,485 units, marking a slight 1% decline compared to the previous year.

Stock Market Reaction

Tata Motors’ stock reflected mixed sentiments following the announcement:

• January 8, 2025: Closed 0.18% up at ₹794.85 on the BSE.
• January 9, 2025: Dropped 1.7% to ₹781.40 on the NSE.

The robust demand for JLR’s flagship models underlines the strong market presence of Range Rover, Range Rover Sport, and Defender in the luxury automobile sector. With continued efforts to resolve supply chain challenges and optimize production, JLR is well-positioned to capitalize on its flagship models’ profitability.

However, the dip in retail sales and challenges in key markets such as China and the UK highlight areas requiring focused strategies to maintain growth momentum.

As Tata Motors navigates the complexities of global demand, JLR’s flagship models remain the driving force behind the company’s performance.

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