Moneycontrol Bureau
Shares of Tata Motors fell 2 percent intraday on Wednesday even after Jaguar Land Rover retail sales grew in March. The British subsidiary of Tata Motors retail sales jumped 6 percent year-on-year at 58481 units.However, what irked investors is its slowdown in China. Volumes in China were the biggest disappointment, falling 34 percent Y-o-Y at 7000 units. In March, JLR had also recalled 36000 SUVs in China for gearbox problems.Developed markets like US, EU and UK had a strong month, with retails growing 17-31 percent. Buoyed up by introduction of Discovery Sport in March, Landrover sales were up 13 percent Y-o-Y at 49099 units. Sales of Range Rover were up 38 percent in 2014 while Defender jumped 58 percent in 2014.Meanwhile, the auto major has made automotive history in Britain with the launch of Jaguar's newest model XE, an entry-level luxury saloon car, at its factory in the West Midlands region of England. The company hopes that in its first full year the XE would double Jaguar's present annual UK sales of 18000.At 09:44 hrs Tata Motors was at Rs 546.30, down Rs 9.60, or 1.73 percent on the BSE.
Posted by Nasrin Sultana
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