 "Tata Motors expects positive Q2 financials")
Tata Motors, India's biggest automotive company, is expecting its EBITDA margins for the second quarter ended September 30 to be in-line with earlier quarters backed by a stellar performance of Jaguar Land Rover.
Based on present management estimates and subject to confirmation in the results announcement to be made in November 2014, we expect that the results for Q2 FY15 will reflect favourable year-over-year wholesale volumes and a general continuation of favourable performance factors, and we expect the EBITDA margin to be in the range reported over the previous four quarters, the Mumbai-based company said in a statement today.
In the second quarter Tata Moors reported total retail sales volume of 110,781 units, up 8% from 102,644 units sold in the corresponding quarter last year. The higher year-on-year sales reflected strong demand for the new Range Rover and Range Rover Sport, and Jaguar F-TYPE.
Retail sales volumes were up in most regions with China, JLR's single biggest market, increasing by 22%, the United Kingdom up by 10%, Europe (excluding the United Kingdom and Russia) up by 5% and Asia Pacific up by 22%.
North America was down 5% in the reporitng quarter because production was routed to the high margin Chinese market where ticket price is about three times the price in the US.Total wholesale volumes in were 103,975 units, up 2% compared to 101, 931 units for the corresponding quarter last year.
"The reporting quarter includes the seasonal effect of the annual summer manufacturing plant shutdown (10 to 15 days, depending on the plant), so is not directly comparable to the first quarter of Fiscal 2015", the company added.