Jaguar Land Rover expects free money circulate of over 800 million kilos (about $1 billion) for the quarter ending March 31, boosted by a 24 p.c rise in wholesale volumes as chip and different provide constraints eased, the posh carmaker stated on Thursday.

Tata Motors, which acquired the UK automaker in 2008, had set a goal of 1 billion kilos of free money circulate for the fiscal 12 months.

JLR stated wholesale volumes, excluding its China three way partnership, rose 24 p.c, whereas retail gross sales grew 30 p.c within the fourth quarter.

Wholesale volumes in China, JLR’s largest market, rose 17 p.c in contrast with a 13 p.c drop within the earlier quarter, the corporate stated.

Its whole order ebook at March-end was 200,000 models, down 15,000 models from Dec. 31, reflecting larger retail gross sales within the fourth quarter, JLR stated, including that it noticed demand for Vary Rover, Vary Rover Sport and Defender fashions.

JLR’s efficiency is vital to Tata Motors because it contributes almost 60 p.c to the group’s income from operations.

Final quarter, Tata Motors returned to revenue for the primary time in two years on rising demand for JLR vehicles and the easing of semiconductor chip provides.

JLR expects to report outcomes for the newest quarter in Could.