Tata Motors’ Jaguar Land Rover Q4 Wholesales Above Estimate, Up 7.5%: Motilal Oswal
A Land Rover badge is displayed on the front grille of a Range Rover Velar during a JLR event in New York, U.S. (Photographer: David ‘Dee’ Delgado/Bloomberg)

Tata Motors’ Jaguar Land Rover Q4 Wholesales Above Estimate, Up 7.5%: Motilal Oswal

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Motilal Oswal Report

Tata Motors Ltd.’s Jaguar Land Rover Q4 FY21 wholesale volumes (including Chery Jaguar Land Rover) grew ~7.5% YoY to ~136,500 units.

Jaguar wholesales declined ~3.4%, while Land Rover grew ~11.3%.

JLR sales saw significant improvement sequentially (up 14% QoQ). This has led to dilution in the mix as the share of Jaguar has improved ~5.4 pp QoQ.

The sharp beat in quarterly wholesales would lead to a stronger-than estimated Q4 FY21 performance.

Based on our volume estimates for JLR, we expect Tata Motors’ Q4 FY21 consolidated profit after tax at Rs 36.4 billion.

Click on the attachment to read the full report:

Motilal Oswal Tata Motors Company Update.pdf

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