Shares of Tata Motors rose to hit new high on Friday after company reported higher sales for the month of August pushed by Jaguar Land Rover sales.
The company sold 43,061 units passenger and commercial vehicles in August -- a growth of 6 percent over 40,679 vehicles sold in corresponding month in 2015.
"We are pleased with the continued sales success of both brands," said Joe Eberhardt, President and CEO, Jaguar Land Rover, North America, LLC.
"Our sales growth is a testament to the strength of the expanded Jaguar product lineup and Land Rover has again established a new sales record supported by the success of the Range Rover and Range Rover Sport, along with the continued growth of Discovery Sport", added further.
Here are 6 reasons why Stock rose:
1. Jaguar Land Rover August U.S. sales for both brands hit 9,329 units, a 46 percent increase from 6,368 units in August 2015; making it he best August sales month since 2003.
2. With the brand's expanded line up in showrooms, Jaguar sales jumped 189 percent for best August sales month since 2004.
3. Land Rover sales up 15 percent from record 2015 August sales; making it the best ever Land Rover August sales month.
4. With 1,038 units sold, Discovery Sport has its best August sales month.
5. For the month of August, the Range Rover and Range Rover Sport were the volume leaders hitting 1,236 and 1,667 units sold, respectively.
6. Starting with 2016 model year vehicles, the Jaguar brand will have an improved competitive value position via steps such as increased standard equipment or new lower MSRP choices by model.
Also starting in 2016, all Jaguar models will come standard with Jaguar EliteCare, an ownership package with class-leading five-years or 60,000-mile warranty, complimentary scheduled maintenance coverage, roadside assistance and Jaguar InControl® Protect & RemoteTM2.