Moneycontrol Bureau
Tata Motors shares surged 3 percent intraday Friday after consistent stellar performance by subsidiary Jaguar Land Rover in monthly sales.
JLR, the UK's leading manufacturer of premium luxury vehicles, reported its July retail sales of 44,486 vehicles, up 34 percent compared to July 2015, which was driven by strong sales of the Land Rover Discovery Sport, the Jaguar XE and the F-PACE.
Jaguar Land Rover sold 336,052 vehicles in the first seven months of 2016, up 23 percent on same period in prior year.
"In July, Jaguar Land Rover has delivered a particularly solid performance in China and North America with retail sales increasing by 64 percent and 51 percent respectively compared to the previous year," the company said in its filing.
Retail sales were up year-on-year across all other regions - 38 percent in the UK, 24 percent in Europe and 2 percent in other overseas markets.
Land Rover sales grew by 19 percent YoY to 31,288 vehicles in month gone by. "Jaguar recorded its best July ever, delivering 13,198 vehicles, up 91 percent on the previous year, reflecting the strong launch of the F-PACE as well as continued solid sales of the XE," the company said.
At 15:10 hours IST, the scrip of Tata Motors was quoting at Rs 514.45, up 2.83 percent on the BSE.Posted by Sunil Shankar Matkar
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