Several customers have reportedly put their purchases on hold, anticipating a drop in the prices after the FTA comes into effect
CLSA has downgraded Tata Motors to ‘Outperform’ from its previous ‘High Conviction Outperform’ rating and slashed the target price to Rs 765 per share.
Full-year guidance for revenue remained unchanged at £30 billion, alongside EBIT margin of more than 8.5 percent and achieving a positive net cash position
Apart from supply issues at JLR, global car demand is slowing even as Tata Motors is faced with moderation in CV and PV sales in the domestic market
Full-year sales jumped 20 percent YoY as the wholesale volumes stood at 401,303, up 25 percent
Morgan Stanley has an 'overweight' call on the counter, with a target price of Rs 890 a share, an upside of 10 percent from the current level
Jaguar Land Rover (JLR) delivered the highest wholesales in 11 quarters during the period, a statement by JLR shared on BSE by Tata Motors said.
The automaker raised JLR's full-year earnings before interest and taxes (EBIT) margin forecast to around 8% from 6%.
Tata Passenger Electric Mobility Ltd (TPEM) and Jaguar Land Rover (JLR), both 100 per cent subsidiaries of the auto major, have entered into a Memorandum of Understanding (MoU), Tata Motors said in a statement.
As per the numbers released for February 2023, Tata Motors recorded a total sales of 1,670 units of JLR in the British market during the month.
The Street was expecting the auto major to swing back to black with net profit estimates anywhere between Rs 300-800 crore.
Wholesales in the quarter rose by 5.7 percent vs Q2 and 15 percent vs the same period last year to 79,591 units, with a significant increase in New Range Rover and New Range Rover Sport production.
The order is the biggest win from a single customer for a single product in the company’s history. And the product will be manufactured at Alicon’s facility at Pune.
Retail sales of Jaguar Land Rover for the quarter ending June 30 were 183 units lower at 78,825 vehicles (broadly flat) as compared to the sales in the previous quarter ending March 31, 2022.
The only stumbling blocks, says Balaji, are semiconductor availability for JLR, inflation, and the ability to manage cost challenges at Tata Motors
Though the Jaguar Land Rover (JLR) numbers were especially hit, the superlative performance of the standalone business helped in partially arresting the impact
Brokerages have cut full year consolidated earnings estimates of Tata Motors by 40-65 per cent
Things are looking up and the domestic passenger vehicles business is finally doing well. But it is not yet time to pop the champagne
The China business turnaround remains elusive, with continued market share losses
JLR’s fundamentals show a battered auto company facing stiff competition amid rapidly changing technological and market dynamics, apart from the pandemic
In the near future, JLR is expected to face challenges from the rapidly evolving automotive technology, uncertainty in the UK and Europe and change in import duty structure in China
Uncertainty due to market cyclicality, regulatory restrictions on diesel, Brexit and taxation in the UK pose specific challenges in Europe, he added.
Tata Motors today reported 20.8 percent increase in global sales at 92,551 units, including that of Jaguar Land Rover (JLR) vehicles, in June.
From the commercial vehicle segment, Hitesh Goel, senior auto analyst, Kotak Institutional Equities thinks Ashok Leyland would be a pure play from liquid stock point of view.
Largely the defensives have continued to outperform, despite the fact that the valuation differential between defensives and the rest of the market has kept on increasing.