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Tata Motors gains post September JLR global 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 has moved higher by 2% to Rs 563 on the BSE after the company said Jaguar Land Rover (JLR) achieved a strong 28% year on year growth in global sales during the month of September.

“Jaguar Land Rover, the UK's leading manufacturer of premium luxury vehicles, reported its best ever September retail sales of 61,047 vehicles, up 28% compared to September 2015,” Tata Motors said in a press release today.

The month’s performance has been driven by strong sales of the Land Rover Discovery, Discovery Sport, the Range Rover Evoque and the Jaguar F-PACE, as well as solid sales in China, it added.

“Performance was strong in China and Europe, where collectively we sold almost 23,000 cars this month alone. With the new Discovery launched in Paris this month and sales starting for the first locally built Jaguar in China – the XFL, our British line-up continues to expand and delight in markets across the world,” said Andy Goss, Jaguar Land Rover Group Sales Operations Director.

Jaguar Land Rover delivered solid retail sales growth across all key regions year on year, with China up 50%, Europe up 32%, UK up 30%, North America up 23% and other overseas markets up 3%. Jaguar Land Rover sold 434,025 vehicles in the first nine months of 2016, 24% up on the same period in the prior year.

At 10:44 am, the stock was up 1.6% at Rs 560 on the BSE, as compared to 0.19% decline in the S&P BSE Sensex. A combined 2.57 million shares changed hands on the counter on the BSE and NSE so far.