Tata Motors global wholesales slide 11% in Q2

Tata Motors witnessed an 11% drop in total group global wholesales, including Jaguar Land Rover, to 3,04,189 units in Q2 FY25, compared to the same quarter last year, according to Tata Motors’ statement released today. The carmaker informed the exchange that global wholesales of its commercial vehicles, including the Tata Daewoo range, reached 86,133 units in Q2 FY25, marking a 19% decline compared to the same period in Q2 FY24.

Global wholesales of Tata Motors' passenger vehicles for Q2 FY25 reached 1,30,753 units, reflecting a 6% decrease from Q2 FY24, the release states.

Jaguar Land Rover's global wholesales stood at 87,303 units in Q2 FY25, reflecting a 10% decrease compared to the same period in Q2 FY24. During the quarter, Jaguar recorded wholesales of 5,961 vehicles, whereas Land Rover's wholesales amounted to 81,342 vehicles, the automaker adds.

In September, Tata Motors inaugurated its new production facility for manufacturing cars and sport-utility vehicles (SUVs) in Panapakkam, located in the Ranipet district of Tamil Nadu. This plant is anticipated to produce vehicles for both Tata Motors and Jaguar Land Rover (JLR), serving the needs of Indian and international markets.

This greenfield manufacturing site will see an investment of approximately ₹9,000 crore from Tata Motors Group, with a design aimed at reaching an annual production capacity of over 250,000 vehicles. The automaker has stated that production will begin in phases and will progressively increase to achieve this target over the next 5 to 7 years.

This facility has the potential to generate over 5,000 job opportunities, both direct and indirect, while also helping to develop future-ready skills within the local communities surrounding the plant, according to the company. Furthermore, the facility will operate using 100% renewable energy.

Tata Motors announced a 74% year-on-year (YoY) growth in net profit, reaching ₹5,566 crore for the quarter ending June 30, 2024, up from ₹3,203 crore in the same quarter the previous year. Additionally, revenue from operations increased by 5.7% YoY, totaling ₹1,07,316 crore for the first quarter, compared to ₹1,01,528 crore during the same period last year.