Tata Motors stock dives over 1% after Jaguar Land Rover August sales

Shares of Tata Motors dipped more than 1% just after Tata Motors-owned Jaguar Land Rover (JLR) today reported 4.3% increase in retail sales at 38,519 units in August 2017. The stock of the Tata group’s automaker Tata Motors fell as much as 1.27% to the day’s low of Rs 374.1 on BSE today. Over 50 lakh shares of Tata Motors have been traded so far on both BSE and NSE.

Total retail sales for Jaguar Land Rover were at 38,519 units in August which is 4.3% up as compared to August 2016. The said sales during the month grew on the back of the launch of new Range Rover Velar and the long wheelbase Jaguar XFL in China as well as continuing strong sales of Discovery Sport and F-PACE.

Retail sales were also up year-on-year in markets such as China and North America. However, Europe, the UK and other overseas markets witnesses decline in sales. “A promising performance in North America has led to another month of global growth for JLR, driven by continuing strong sales of the Jaguar F-PACE and the new Range Rover Velar,” JLR Group Sales Operations Director Andy Goss said.

The Jaguar brand reported retail sales of 10,960 units last month, up 0.8% from the year-ago period, driven by the introduction of Jaguar XF in China and continuing sales of F-PACE. Land Rover saw sales of 27,559 vehicles in August, up 5.8%, on an introduction of the new Range Rover Velar and continuing strong sales of the Discovery Sport and Range Rover.

Earlier last week, the stock of Tata Motors rose as much as 4% after the company reported a rise of 14% in the total sales of Tata Motors for the month of August 2017 to 48,998 units. Tata Motors passenger and commercial vehicles total sales (including exports) rose 14% to 48,988 units in August 2017 as compared to 43,105 vehicles sold in August 2016.

Tata Motors