File photo of Land Rover Discovery (Photo: Twitter)
Tata Motors dipped 5% to Rs 292 on the BSE in intra-day trade amid concerns of auto tariff threat by US on European Cars. The stock trading close to its 52-week low of Rs 582 touched on May 31, 2018 on the BSE in intra-day trade.
“President Donald Trump on Friday threatened to escalate a trade war with Europe by imposing a 20% tariff on all U.S. imports of European Union-assembled cars, a month after the administration launched an investigation into whether auto imports pose a national security threat,” the Reuters report suggested. CLICK HERE TO READ FULL REPORT
Tata Motors subsidiary Jaguar Land Rover (JLR) is the UK’s largest automotive manufacturer, built around two iconic British car brands: Land Rover, the world’s leading manufacturer of premium all-wheel-drive vehicles; and Jaguar, one of the world’s premier luxury sports sedan and sports car marques. The US accounted for nearly a fifth of JLR’s global revenue and 17.2% of Tata Motors’ consolidated revenue.
