Moneycontrol Bureau
Tata Motors' luxury car brand Jaguar Land Rover once again showed stunning performance in August US sales that lifted the stock to fresh 52-week high of Rs 554.45, up as much as 1.9 percent in early trade Friday.
JLR's US sales in August grew by 46 percent to 9,329 vehicles compared with year-ago period, driven largely by Jaguar's recently launched F-PACE and XE.
Jaguar sales shot up sharply by 188.5 percent to 3,298 units while Land Rover sales increased 15.4 percent to 6,031 units on yearly basis.
Tata Motors' passenger vehicles sales in the domestic market were also strong, growing 16 percent to 13,002 units in August compared to same month last year but disappointed with commercial vehicles sales that fell 3 percent.
"Passenger and commercial vehicle sales (including exports) in August were at 43,061 vehicles, a growth of 6 percent, over 40,679 vehicles sold in August 2015," the company said in its filing on Thursday.
Domestic sales grew by 3 percent while exports increased 27 percent to 6,595 vehicles.
Medium & heavy commercial vehicle (M&HCV) sales declined 17 percent. "The segment saw subdued demand, with the slowdown of recent months continuing, as a result of postponement of replacement and fleet expansion," Tata Motors reasoned. Light commercial vehicles sales were up 10 percent at 13,495 units year-on-year. At 09:42 hours IST, the scrip of Tata Motors was quoting at Rs 553.75, up Rs 10.10, or 1.86 percent on the BSE.Posted by Sunil Shankar Matkar
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