Moneycontrol
Get App
Last Updated : Dec 09, 2019 12:15 PM IST | Source: Moneycontrol.com

Tata Motors share price gains 3% on improved November JLR sales in China

Land Rover retail sales in November were 5.5 percent higher at 35,078 vehicles YoY.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Tata Motors share price gained 3 percent in the morning trade on December 9 after Jaguar Land Rover (JLR) reported a consistent improvement in China sales for the fifth consecutive month in November.

The stock has rallied 35 percent in the last three months. It was quoting at Rs 164.30, up Rs 2.80, or 1.73 percent, on the BSE at 1154 hours.

The UK-based luxury carmaker announced retail sales of 46,542 Jaguar Land Rover vehicles in November 2019, down 3.4 percent compared to the same period last year.

Close

"Sales were down in the UK (-10.8 percent reflecting lower industry and lower incentives on selected models), Europe (-16.8 percent, largely reflecting higher sales a year ago ahead of tax changes in certain jurisdictions), and Overseas (-16.7 percent, largely Russia and MENA)," Tata Motors said in a BSE filing.

However, sales continued to improve in China (up 29 percent year-on-year), marking the fifth consecutive month of double-digit growth in the region, it said.

North America, too, grew (4.9 percent), achieving best-ever November sales.

"Model highlights include the new Range Rover Evoque (up 25.2 percent), the refreshed Land Rover Discovery Sport (up 4.4 percent and just launching in China), as well as the Land Rover Discovery (up 15.5 percent) and Range Rover Sport (up 4.8 percent)," it said.

Land Rover retail sales in November were 5.5 percent higher at 35,078 vehicles YoY but Jaguar sales fell 23.1 percent YoY to 11,464 in the month gone by.

"Despite the ongoing headwinds in China, we continue to see green shoots of recovery in our sales there. The intensive work with our retailers in the region, combined with significant process and product improvements, are starting to gain traction," Felix Brautigam, Jaguar Land Rover Chief Commercial Officer, said.

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Dec 9, 2019 12:15 pm
Sections
Follow us on