JLR Wholesales Climb 25% In Q2 As Tata Motors Arm Recovers From Cyberattack

Jaguar Land Rover (JLR), the British luxury carmaker owned by Tata Motors Passenger Vehicles Limited, reported wholesale volumes of 82,400 units for the quarter ended 30 September, up 24.5 per cent from a year earlier, as the company continued its recovery from the cyberattack that paralysed its factories in September 2025. The numbers, disclosed to Indian stock exchanges on 3 October, mark JLR's strongest quarterly wholesale performance since the incident.

Retail sales told a different story, falling 7.5 per cent year-on-year to 79,000 units. JLR said retail demand in China was hit chiefly by the wind-down, in June, of locally produced vehicles from its joint venture with Chery. Disruption in the Middle East also weighed on deliveries, even as retail volumes there suggested underlying demand remained firm. The UK and other overseas markets provided the clearest bright spots, with UK wholesales nearly doubling to 21,000 units from 12,327 a year earlier.

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Compared with the first quarter of this financial year, the improvement was more modest: wholesales rose only 3.9 per cent, from 79,288 units, while retail sales dipped slightly. Wholesale volumes also ran ahead of retail by roughly 3,400 units, a gap worth watching as an indicator of dealer stock levels.

The Range Rover, Range Rover Sport and Defender nameplates together accounted for 77.6 per cent of wholesale volumes, up from 76.7 per cent a year ago, underlining how dependent JLR's recovery is on its most profitable models. Jaguar-badged wholesales, by contrast, fell to just 800 units from 1,519, reflecting the planned run-out of outgoing models ahead of the brand's relaunch as an all-electric marque. The first of that new line-up, the Jaguar Type 01, was due to be unveiled in New York on 6 October.

Shares of Tata Motors Passenger Vehicles rose 3.31 per cent to close at ₹288.65 on the National Stock Exchange on Monday, outperforming a broadly firm market, though the stock remains close to its 52-week low and analysts have stayed cautious on JLR's margins.

For Indian buyers, the JLR business has held up better than the global numbers suggest. The company's India unit posted record first-quarter retail sales this year, helped by the India-UK free trade agreement, which has already lowered prices on imported Range Rover SV variants. The Range Rover and Range Rover Sport are assembled locally at Tata's Pune facility, while the Defender, JLR's best-seller in India, continues to be imported from Slovakia.

JLR is expected to report full financial results for the quarter, including margins, in November.