Tata Motors Gains On Strong Jaguar Land Rover Sales In September

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Shares of Tata Motors rose 2 per cent on Friday after the company reported its best ever September retail sales of 61,047 vehicles, up 28% compared to September 2015.

"The month's performance has been driven by strong sales of the Land Rover Discovery, Discovery Sport, the Range Rover Evoque and the Jaguar F-PACE, as well as solid sales in China", the press release said.

Tata Motors Gains On Strong Jaguar Land Rover Sales
Tata Motors: Quotes, News
BSE 559.10BSE Quote14.55 (2.60%)
NSE 559.80NSE Quote15.3 (2.73%)

Jaguar Land Rover delivered solid retail sales growth across all key regions year on year, with China up 50%, Europe up 32%, UK up 30%, North America up 23% and other overseas markets up 3%. Jaguar Land Rover sold 434,025 vehicles in the first nine months of 2016, 24% up on the same period in the prior year, added further.

Commenting on the performance, Andy Goss, Jaguar Land Rover Group Sales Operations Director said: "September is always an important month for the automotive industry and we are proud of our results. Performance was strong in China and Europe, where collectively we sold almost 23,000 cars this month alone.

Jaguar recorded its best September ever, with retail sales reaching 17,640 vehicles, up 70% on the previous year, reflecting the strong launch of the F-PACE as well as continued solid sales of the XE. Calendar year-to-date sales for Jaguar were 103,366 up 72% year-on-year.

Shares of Tata Motors were seen trading at Rs 558, higher by 1.23 per cent on BSE at 12.12 pm IST. It touched an intra-day high of Rs 563 during trade.


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