Tata Motors gains on strong Jaguar Land Rover US sales

 

A Jaguar Land Rover logo is seen on the building inside the Chery Jaguar Land Rover plant in Changshu

A Jaguar Land Rover logo is seen on the building inside the Chery Jaguar Land Rover plant in Changshu

 

  Tata Motors was up 3% to Rs 503 on the BSE in intra-day trade after Jaguar Land Rover (JLR) reported a strong 30% jump in US sales at 12,573 units in December 2016 against 9,638 units a year earlier.

“Jaguar sales were 4,294 units, a 259% increase from 1,197 units in December 2015; Land Rover sales reached 8,279 units, a 2% decrease from 8,441 units in December 2015. Jaguar Land Rover (JLR) North America December U.S. sales for both brands hit 12,573 units, a 30% increase from 9,638 units in December 2015; making it the best ever December retail month,” the company said in a release.

For the full year 2016, JLR U.S. sales were up 24% to 105,104 units sold, compared to 85,048 units sold in 2015. With this performance, 2016 becomes the new U.S. high water mark for Jaguar and Land Rover brands’ combined sales, surpassing previous high of 102,191 sales achieved in 2002, it added. CLICK HERE TO READ FULL RELEASE.

At 10:56 am; the stock was up 2.7% at Rs 500 as compared to 0.69% rise in S&P BSE Sensex. A combined 3.59 million shares changed hands on the counter on the BSE and NSE so far.