Tata Motors Falls as Jaguar Recalls Sports Cars in The US

Business

oi-Sunil

By Sunil Fernandes

Published: Wednesday, December 10, 2014, 11:11 [IST]

Shares in Tata Motors fell after reports that Jaguar has recalled sports cars in the US. After dropping one per cent the stock recovered and was down marginally at 0.13 per cent at Rs 505 on the National Stock Exchange.

Reuters reported that Jaguar Land Rover is recalling 7,079 Jaguar F-Type sports cars in the United States because potential incorrect wiring could lead to the front passenger air bag not activating, according to documents filed with U.S. safety regulators.

Jaguar and Land Rover is owned by Tata Motors, and has helped the company drive sales and profitability in the last few years.

Dealers say this maybe a temporary aberration to the stock which has managed to rally sharply in the last few years.

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