Moneycontrol
Dec 07, 2017 02:26 PM IST | Source: Moneycontrol.com

Tata Motors gains 2% after Jaguar Land Rover reports 10% growth in November sales

Jaguar retail sales in November fell 6.3 percent to 13,688 vehicles in November, compared to the same month last year, as solid sales of the long wheel base XFL in China were more than offset by lower sales of XE.

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Tata Motors shares rallied 2 percent intraday Thursday after Jaguar Land Rover reported a 10 percent growth in November sales.

The UK's largest automotive manufacturer sold 52,332 vehicles in November, up 10 percent year on year, driven primarily by the introduction of the new Land Rover Discovery and the Range Rover Velar.

Jaguar Land Rover retail sales were up in overseas markets (19.7 percent), China (19.1 percent), the UK (8.6 percent) and in North America (7.8 percent) but down 2.1 percent in Europe.

"November has been a robust month for Land Rover, driving sales up globally across all of key regions," Andy Goss, Jaguar Land Rover Group Sales Operations Director said.

Jaguar retail sales in November fell 6.3 percent to 13,688 vehicles in November, compared to the same month last year, as solid sales of the long wheel base XFL in China were more than offset by lower sales of XE.

Furthermore, retail sales of Jaguar’s all new compact SUV, the E-PACE, began in the UK and Europe during November, the company said.

Land Rover retailed 38,644 vehicles in November, up 17.2 percent compared to November of last year, primarily reflecting the sales ramp up of the all new Discovery and the introduction of the Range Rover Velar partially offset by softer sales of Range Rover Sport.

JLR said retail sales of the refreshed Range Rover and Range Rover Sport (including plug-in hybrid variants) are due in the New Year.

At 14:02 hours IST, the stock price was quoting at Rs 402.00, up Rs 5.20, or 1.31 percent on the BSE.
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