Tata Motors becomes 16th most valued automaker, beats Kia Corporation m-cap
market capitalization. Tata Motors shares on Monday hit a record high after its Jaguar Land Rover (JLR) unit reported 30% year-on-year (y-o-y) jump in global wholesale dispatches in the June quarter of this fiscal year. Tata Motors shares rose 0.19% to close at Rs619.40.
With a market valuation of $27.15 billion, Tata Motors is now positioned just below Hyundai Motor. JLR, the British luxury car maker said wholesale volumes, excluding those from its China joint venture, rose 30% year-on-year in the April-June quarter. Its retail sales surged 29% in the quarter.
Retail volumes rose 40% in China, JLR's biggest market, and 42% in North America, but were flat in Europe. The car maker said there was strong demand for its Range Rover, Range Rover Sport and Defender models, with their retail sales rising 199%, 42% and 90%, respectively. Its total order book stood at 185,000 units at end-June, dropping from 200,000 units at end-March, as chip and other supply constraints continue to ease.
JLR, which expects to report first-quarter results in July, accounts for nearly 60% of Tata Motors' revenue. JLR has forecast free cash flow of more than 2 billion pounds for this fiscal year. On Thursday, Tata Motors said its hatchback Tiago has crossed the 5 lakh sales mark amid dwindling fortunes of the entry-level segment in the domestic market.
The latest one lakh units sales mark for the model has come within a span of 15 months, which indicates its rising appeal to customers seeking a dynamic and comfortable driving experience, the auto major had said in a statement. The Tiago range comes in multiple powertrain options of petrol, CNG and electric. In addition, the Tiago NRG comes in an SUV-inspired design with off-roading capabilities
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