According to the business, the global wholesale of all Tata Motors commercial vehicles and the Tata Daewoo line in the first quarter amounted at 88,456, which is down 15 percent from the previous year.

The global offtake of passenger vehicles increased by 8% to reach 140,450, which is a larger number than in the previous year.

The wholesale number of Jaguar vehicles for the quarter was 10,324, while the wholesale number of Land Rover vehicles for the quarter was 82,929 vehicles. When taken together, the premium divisions’ combined sales of 93,253 units represent a 30 percent increase over the same quarter a year ago.

The automobile manufacturer announced on July 7 that JLR’s order book remained strong with over 185,000 client orders at the end of the quarter. This comes as chip and other supply bottlenecks continue to improve. Particularly robust was the demand for Land Rover’s Range Rover, Range Rover Sport, and Defender models, which together made up 76 percent of the order book.

JLR further anticipates, on the basis of early cash balances, that it will be able to record a positive free cash flow of more than 400 million pounds in the first quarter of FY24.

Jefferies, an international brokerage firm, anticipates that both the JLR and India businesses will perform well in FY24, which will drive robust earnings growth and deleveraging. “By the end of the fiscal year in 2025, we anticipate that EBITDA will be 2.1 times that of FY23, that EPS will reach an all-time high, and that the auto balance sheet would shift to net cash. Our EBITDA and EPS for FY24-25 are 11-12 percent and 40 percent above Street, respectively,” the company stated in a note that was distributed the previous month.

On July 7, the share price reached a new all-time high of Rs 624.80 on the NSE, and it finished the day with a gain of more than 3.6 percent. The business stated in a separate filing with the exchange that it will make the announcement regarding the results of its June quarter on July 27.

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Tata Motors is looking to increase passenger vehicle prices from next month in order to make its model range compliant with stricter emission norms which kick in from April 1 next year, according to a top company official.

In an interaction with PTI, Tata Motors Managing Director – Passenger Vehicle and Electric Vehicles Shailesh Chandra said the price revision would also offset the impact of commodity prices, which have remained high for the most part of the year.

The regulatory change will have its impact on the cost. Even the real impact of softening of commodity prices is only going to come from next quarter and we still have the residual impact of the commodity escalation that we have seen during the year,” Chandra said.

He noted that even the battery prices have gone up and the same has not been passed on to the market.

So we are evaluating a price increase basis some of the residual effect that is left as far as the commodity prices are concerned. Battery prices and new regulations have also impacted the EV side,” Chandra said.

Besides, there is a cost involved in making the model range transition to conform to new emission norms, he added.

“We are exploring potential price increase next month because of these factors for both ICE and EVs,” Chandra said.

Tata Motors sells a range of models like Punch, Nexon, Harrier, and Safari in the domestic market. It leads the electric vehicle segment with products like Tiago EV and Nexon EV.

From April 1, 2023, vehicles will need to have an on-board self-diagnostic device to monitor the real-time driving emission levels. The device will constantly monitor key parts for meeting emission standards such as the catalytic converter and oxygen sensors, to keep a close watch on emissions.

In a scenario wherein the emissions exceed the parameters, the device will indicate through warning lights that the vehicle should be submitted for service.

Additionally, in order to control the level of fuel burnt, the vehicles will also carry programmed fuel injectors, which would control the timing and amount of fuel injected into the petrol engine.

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