Tata Motors’ stocks were higher about 1.50 percent on May 5 after reports said Jaguar Land Rover (JLR), its luxury car brand has started shipping cars to the US again.
News agency Reuters, quoting the London Times, reported that Tata Motor's luxury car brand JLR has sent its first batch of vehicles on April 30, after almost a month-long pause. JLR had stopped shipments in early April due to the 25% tariff on car imports put in place by that US President Trump on April 2.
Tata Motors’ shares are higher by up to 1% on May 5, and higher by 12.5 percent over last one month.
JLR has not officially commented on resuming the shipments, but the development is significant as US is the second-biggest market for UK-made JLR cars after the European Union, making up nearly 20 percent of its exports. Read More
A JLR spokesperson told Reuters that the US remains a key market for its luxury cars, even with 25% auto tariffs still in effect. "As we work to address the new US trading terms with our business partners, we are enacting our planned short-term actions, as we develop our mid- to long-term plans. We will give a further update at our full year results in May," the statement added.
President Trump had eased tariffs on auto parts with credits and other relief measures, though carmakers still say these are not enough to calm worries. Aston Martin, another UK carmaker, said it’ll split the tariff costs with customers, sell off its US inventory, and limit new shipments to the US for now.
Tata Motors’ sales in the domestic & international market for Q4FY25 was about 2.53 lakh units, compared to 2.65 lakh units a year ago.
On May 2, the company's board approved the issuance of non-convertible debentures (NCDs) worth up to Rs 500 crore through private placement. The NCDs will carry a fixed coupon rate of 7.08% per annum and will be issued in two tranches.
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