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JLR Sales Rise By 11.9%; Stock Of Tata Motors Surges
Tata Motors owned Jaguar Land Rover (JLR), car making company in the company reported a rise of 11.9% YoY in its total retail sales in April month at 45,180 units.
Jaguar Land Rover (JLR) owned by Tata Motors today reported 11.9% increase in retail sales at 45,180 units in the April month. Sales were primarily driven by the introduction of new models including the Range Rover Velar (winner of the 2018 World Car Design of the Year award), Land Rover Discovery and the Jaguar E-PACE, the company said in a press release.
The retail sales of Jaguar in the previous month were up by 8% at 13,289 units while Land Rover sales grew by 13.6% to 31,891 units in comparison to the corresponding month a year ago.
In the April month, retail sales were higher significantly year on year in China, the UK, overseas markets and North America but remained weak in other markets including Europe with continued uncertainty over diesel in Europe and the UK.
"It's pleasing to see a marked improvement in the UK. This is mainly due to two all-new models now being on the market but also an artificially low April 2017 caused by taxation changes. The legislative uncertainty around diesel and the resulting lower demand in the UK and Europe continue to have a negative impact on our business," said Felix Brautigam, Jaguar Land Rover Chief Commercial Officer.
Meanwhile, stock of Tata Motors got a boost and it rallied as much as 4.4% in intra-day trade today to record the day's high of Rs. 346.75 on the BSE.
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