Tata Motors hits all-time high on JLR's record sales data
Luxury car maker JLR, the only supportive part for Tata Motors amid slowdown in its leading segment - commercial vehicle, reported record retail sales of 43,181 units during the month gone by, a growth of 17 percent year-on-year and 55 percent sequentially.
October 10, 2013 / 21:44 IST
Moneycontrol Bureau
Shares of Tata Motors are in top gear on Thursday, rallying 5.6 percent intraday to touch a record high of Rs 373.80 after its UK subsidiary Jaguar and Land Rover (JLR) announced its best ever September retail sales on Thursday.Luxury car maker JLR, the only supportive part for Tata Motors amid slowdown in its leading segment - commercial vehicle, reported record retail sales of 43,181 units during the month gone by, a growth of 17 percent year-on-year and 55 percent sequentially.Jaguar and Land Rover brands received strong response during the period with the Chinese sales growing 46 percent and Asia Pacific jumping 29 percent, UK rising 11 percent, Europe up 8 percent, North America up 6 percent, and other overseas markets up 15 percent, the company said in its filing.Jaguar sales grew by 35 percent year-on-year to 8,462 vehicles, reflecting F-TYPE introduction, continued demand for all XF derivatives and a solid performance from the XJ (up 51 percent).In case of Land Rover, the company reported a 13 percent growth to 34,719 vehicles, supported by Range Rover Evoque (up 31 percent) and all-new Range Rover Sport (sold 5,193 vehicles in September).JLR sold 3,12,834 units during the period of nine months ending September 2013, up 16 percent and in the period of April-September, it recorded sales of 1,97,363 units, a growth of 16 percent over a year ago period.Meanwhile, Tata Motors' domestic performance was very bad with the total sales falling 33 percent Y-o-Y to 50,427 units due to slowdown in commercial vehicle space.Tata Motors stock closed at Rs 373.65, up 5.54 percent on the Bombay Stock Exchange.(Posted by Sunil Shankar Matkar) Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
