The new Discovery Sport comes with features such as all-new premium LED headlights with daytime running lights, rear LED lights and animated directional indicators, among others.
Tata Motors-owned Jaguar Land Rover (JLR) today reported its best-ever annual retail sales of 6,04,009 units in the financial year ended March 31, 2017, up 16 per cent from the year-ago period.
Benefits of significant pound depreciation will flow through into JLR's margin that may improve to 16 percent by FY19 from 10.3 percent in Q2FY17, CLSA feels.
Tata Motors shares gained 2 percent on account of better-than-expected consolidated revenue growth & standalone operational performance, and improvement in JLR business.
Tata Motors-owned Jaguar Land Rover today reported 22 percent jump in global retail sales to a record 2,91,556 units in the first half this year riding on robust demand in Europe and the UK.
Brokerages have maintained their overweight rating on the stock after JLR retail sales data, saying F-Pace will be key driver for overall sales growth in FY17 along with other new launches and China growth is likely to be aided by Discovery Sport & XF.
Jaguar Land Rover, the luxury car maker, has reported a 29 percent year-on-year growth in March sales to record high of 10,866 vehicles led by growth in both brands.
In December, JLR global retail sales saw a growth of 20 percent annually at 49553. Jaguar sales rose 20 percent (Y-o-Y) at 838 2units while Landrover sales grew 20 percent (Y-o-Y) at 41171 units.
Antique Stock Broking has reiterated buy rating on the stock with a target price of Rs 509 per share (reduced from Rs 583 earlier), implying 61 percent upside.
Deutsche Bank believes that the impact on margins (down 290 basis points by FY18) and free cash flow will be stronger than earlier anticipated. Hence it cut earnings per share forecasts by 17-23 percent and target price by 21 percent to Rs 375.
"Jaguar Land Rover, the UK's leading manufacturer of premium luxury vehicles, reported August 2015 retail sales of 29,327 vehicles, down 3 percent year-on-year," said the subsidiary of Tata Motors.
UBS believes risk-reward looks attractive for Tata Motors, as it expects Jaguar Land Rover (JLR) volumes growth to move back into double digits from Q3FY15 driven by the ramp-up of the Chery JV plant and new models – Jaguar XE, XF and Discovery Sport.
Nomura is not much concerned about the disappointment as underlying demand for the company‘s products remains strong. The brokerage reiterates a buy rating. Nomura states that low sales volume may be possibly be due to lower despatches to China for the Evoque model to clear inventory.
Shares of Tata Motors declined 1.7 percent intraday Friday following sluggish retail sales reported by Jaguar Land Rover (JLR) in February.
Overdrive travels to the snowy exotic Iceland where Bertrand D'Souza is testing the all new Discovery Sport from Land Rover. Find out what Bertrand D'Souza has to say about this new SUV from Land Rover.
Chinese market contributes 40 percent to JLR (the UK subsidiary of Tata Motors) sales. JLR had reported strong 17 percent volume growth over past 6 months in China.