Motilal Oswal - Tata Motors: JLR Wholesales Decline 45% In Q1FY21; China Wholesales Grow 15%
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Motilal Oswal Report
Tata Motors' Jaguar Land Rover wholesale volumes declined 44.8% year-on-year to around 65,400 units (v/s estimated ~49,000) in Q1FY21, whereas volumes for the China JV grew ~15% YoY to ~16,500 units.
Over 95% of Jaguar Land Rover’s retailers worldwide have totally or partially restarted their operations; moreover, all of the company’s plants have resumed manufacturing, with the exception of the Castle Bromwich facility, which would gradually start up again in August. All plants are operating on single shifts, with social distancing measures in place and production ramping up as demand increases.
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