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Last Updated : Jul 09, 2020 08:37 PM IST | Source: Moneycontrol.com

Tata Motors' JLR retail sales fall 42% in June quarter as COVID-19 lockdowns hit hard

Retails in North America were down 32.1 percent, the UK was down 69.5 percent, Overseas down 46.9 percent, and Europe down 59.1 percent in June quarter YoY.

 
 
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Jaguar Land Rover retail sales for the three-month period to June 2020 were significantly impacted by COVID-19 in line with the unprecedented market conditions, said Tata Motors in its exchange filing.

The UK's largest automotive manufacturer sold 74,067 vehicles in June quarter and 35,334 vehicles in the month of June.

"June retail sales were down 24.9 percent year-on-year, but representing an improving monthly trend within the overall quarter, with total sales down 42.4 percent year-on-year," said the company.

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Strict lockdowns and social distancing measures for COVID-19 resulted in temporary shutdowns of most retailers and the company’s manufacturing plants in April and much of May, it added.

Jaguar sales during the quarter declined 52.5 percent YoY to 18,787 vehicles and Land Rover sales fell 37.9 percent to 55,280 vehicles, while in June month, sales dropped 41.7 percent and 17.1 percent respectively.

"Over 95 percent of Jaguar Land Rover's retailers worldwide are now open or partially open and all of the company's plants have resumed manufacturing, with the exception of the Castle Bromwich facility, which will gradually restart in August," Tata Motors said.

For the quarter, retail sales in China were only down 2.5 percent year-on-year as lockdown measures were lifted earlier than in other regions and the solid recovery continues, it added.

Retails in North America were down 32.1 percent, the UK was down 69.5 percent, Overseas down 46.9 percent, and Europe down 59.1 percent in June quarter YoY.

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"While the COVID-19 pandemic continues to impact the global auto industry, we are pleased to see initial green shoots of recovery. We are working alongside our retailers, planning for gradual recovery as lockdowns relax and economies respond. Through the quarter we continued to introduce new and updated Jaguar and Land Rover vehicles, to very positive response," Felix Brautigam, Jaguar Land Rover Chief Commercial Officer said.

Jaguar Land Rover will be releasing its financial results for the quarter ended June 30, 2020 later in the month, "but ended the quarter with a stronger than expected cash position of about 2.7 billion pound (unaudited) and overall liquidity of about 4.6 billion pound," Tata Motors said.
First Published on Jul 9, 2020 08:37 pm
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