JLR retail sales jumped 53.3% to 113,569 units in Q2 September 2020 over Q1 June 2020. The sales, however, tumbled 11.9% compared with the same period last year.
Jaguar sales jumped 45.6% while Land Rover sales climbed 56% in Q2 September 2020 over Q1 June 2020.
JLR said that almost all of its retailers worldwide are now open or partially open and the company's plants have resumed production with robust protocol and guidelines to ensure that effective social distancing, hygiene and health monitoring measures are in place and all sites are Covid-19 secure. The vehicle manufacturing plants at Solihull (UK), Halewood (UK) and Nitra (Slovakia), as well as the Engine Manufacturing Centre (UK), have now increased to a two-shift pattern to meet increasing demand.
JLR retail sales in China were particularly encouraging, up 14.6% on the prior quarter and 3.7% year-on-year. The month of September also saw sales up 28.5% year-on-year in China.
Retail sales for other regions also significantly improved from the prior quarter, including the UK (+231.6%), Europe (+78.8%), North America (+21.3%) and Overseas (+35.1%). However, sales in these regions have not yet recovered to pre-covid levels a year ago: UK (-2.9%), North America (-15.8%), Europe (-19.8%) and overseas markets (-30.3%).
The launch of the new Land Rover Defender continued and sales gained pace in the quarter, rising to 4,508 units in the month of September. Despite the pandemic, the company continues to launch planned new products and announced the new model year Jaguar F-PACE and Range Rover Velar, both now with mild-hybrid (MHEV) and plug-in hybrid (PHEV) variants. This brings the number of models offering PHEVs and MHEVs to seven each, with one more PHEV and four further MHEVs to be announced this year.
JLR will be releasing its financial results for the quarter to 30 September 2020 later this month. The company ended September with about £3 billion of cash and short-term deposits, up £0.3 billion, primarily reflecting positive free cash flow as expected in the quarter. Total liquidity was about £5 billion, including the company's £1.9 billion revolving credit facility, which remains undrawn.
Shares of Tata Motors have spurted 125% from a low of Rs 63.60 hit on 24 March 2020.
The auto major reported a consolidated net loss of Rs 8,438 crore in Q1 June 2020, higher than net loss of Rs 3,698.34 crore in Q1 June 2019. Net sales in Q1 FY21 stood at Rs 31,481.86 crore, falling 48% from Rs 60,830.16 posted in Q1 FY20.
Tata Motors is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses.