UK (Commonwealth) _ When February JLR registrations in the UK rise 35% YoY, Tata Motors sets a new record. Tata Motors saw a 3.52% gain to Rs 1,021.95 following a 35.03% increase in total Jaguar Land Rover (JLR) registrations in the UK from 1,670 units in February 2023 to 2,255 units in February 2024.
The car registration statistics for the month of February 2023 has been released by the Society of Motor Manufacturers and Traders (SMMT), a UK-based organization. The number of new automobile registrations in the UK increased by 14% in February 2023 to 84,886 from 74,441 in the same month the previous year. In February 2024, Land Rover registrations increased by 11.71% to 1,517 units compared to February 2023, while Jaguar registrations increased by 136.54% to 738 units.
Tata Motors, a multinational automaker producing automobiles, SUVs, pickup trucks, buses, and a comprehensive array of smart, e-mobility, and integrated vehicle solutions, is the owner of JLR. It is in the top three in the passenger car market and leads the commercial vehicle market in India.
In the meantime, Tata Motors Ltd. (TML) declared that its board has accepted a demerger proposal today, marking a significant restructuring step. The goal of the strategy is to empower individual business units and unleash potential synergies across key areas by forming two distinct publicly listed corporations.
Tata Motors will be divided into two separate companies as a result of the demerger: one will concentrate on the commercial vehicle (CV) industry and its associated investments, while the other will handle all passenger vehicle (PV) operations, including Jaguar Land and electric cars (EVs), that includes Jaguar Land Rover (JLR) and electric cars (EVs), as well as the investments associated with both.
This choice was made in response to each Tata Motors business unit’s impressive recent individual results. Under the leadership of their individual CEOs, the CV, PV+EV, and JLR divisions have run separately since 2021. Leading manufacturer of automobiles, Lorries, buses, and electric vehicles worldwide is Tata Motors. The business is well-established in the UK, India, and other foreign markets.
A sharp increase from Rs 2,957.71 crore in Q3 FY23 to Rs 7,025.11 crore in Q3 FY24 was revealed by the car giant. The revenue from operations for the quarter ended December 31, 2023, increased 25.07% YoY to Rs 1,09,799.22 crore. After the automaker’s domestic and worldwide sales for February 2024 totaled 86,406 automobiles, up 8.41% from 79,705 units sold in February 2023, Tata Motors surged 2.83% to Rs 977.75.
In comparison to the same month previous year, when 78,006 units were sold, the company’s total domestic sales increased by 9% to 84,834 units sold in February 2024. Sales of commercial cars as a whole decreased by 4% to 35,085 units in February 2024 from 36,565 units in the same month the previous year.
In February 2024, the total sales of trucks and buses for the domestic and foreign business of medium and heavy intermediate commercial vehicles (MH & ICV) were 16,663 units, a decrease of 7.05% from 17,928 units in the same month the previous year.
The number of MH&ICV units sold domestically decreased by 6.10% to 16,227 from 17,282 in February 2023. Sales of all passenger cars, including electric vehicles, increased 19% to 51,321 units in February 2024 from 43,140 units sold during the same month the previous year. As a division of the Tata group, Tata Motors is a multinational automaker that produces automobiles, trucks, buses, and utility vehicles.
In Q3 FY24, the automaker recorded a combined net profit of Rs 7,025.11 crore, a sharp increase from Rs 2,957.71 crore in Q3 FY23. The revenue from operations for the quarter ended December 31, 2023, increased 25.07% YoY to Rs 1,09,799.22 crore.
Tata stated in July 2023 that it will invest £4 billion to construct one of the biggest electric vehicle battery factories in Europe in the UK.The factory will be the first battery production facility owned by the firm outside of India.The plant, which is situated in Bridgwater, Somerset, is expected to produce future battery-electric models from Jaguar Land Rover, including the Range Rover, Defender, Discovery, and Jaguar brands. It may also supply vehicles from other automakers.The new plant is scheduled to begin production in 2026.
Part of the Tata Group, Tata Motors Limited is an Indian multinational automotive corporation with its headquarters located in Mumbai. The firm manufactures vans, buses, lorries, and vehicles.
British Jaguar Land Rover and South Korean Tata Daewoo are examples of subsidiaries. India’s Jamshedpur, Panthanagar, Lucknow, Sanand, Dharwad, and Pune are home to Tata Motors’ vehicle and auto production facilities. Other locations include Argentina, South Africa, the United Kingdom, and Thailand. Its research and development centers are located in South Korea, the United Kingdom, Spain, and Pune, Jamshedpur, Lucknow, and Dharwad, India.
