Tata Motors’ inventory surged over 4% to succeed in a document excessive as its subsidiary, Jaguar Land Rover (JLR) India, introduced its strongest-ever efficiency within the first half of the 2023-24 fiscal yr.
The inventory reached an all-time excessive of ₹665.50, marking a exceptional 77 per cent enhance from its 52-week low of ₹375.50, recorded on December 26, 2022.
Within the first half of FY24, Tata Motors’ JLR India reported gross sales of two,356 models, a considerable enhance from the 1,194 models bought in the identical April-September interval the earlier yr. This spectacular progress was propelled by document gross sales in each quarters, with Q2 experiencing a exceptional 108 per cent year-on-year progress, leading to gross sales of 1,308 models. Q1 had additionally seen a big 102 per cent gross sales progress in comparison with the earlier yr.
JLR India’s Managing Director, Rajan Amba, stated the rising enchantment of their model and merchandise amongst Indian customers, expressing their dedication to introducing new merchandise tailor-made to buyer wants and enhancing the model’s desirability and buyer expertise.
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The order e-book for FY24 displays constant progress, with the primary half’s closing order e-book being 90 per cent increased in comparison with the identical interval the earlier yr. Fashions like Vary Rover, Vary Rover Sport, and Defender are in excessive demand, accounting for 72 per cent of the whole order e-book. JLR India famous that the present whole order e-book is equal to greater than eight months of gross sales.
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Moreover, Defender emerged because the top-selling mannequin, with 1,000 models bought within the first half of this fiscal yr. Moreover, the corporate reported an 83 per cent progress in its licensed pre-owned enterprise in the course of the first half of FY24.
Inputs from PTI