Tata Motors gains post June JLR sales data

The stock rallied 5% to Rs 458 on BSE in intra-day trade

Tata Motors rallied 5% to Rs 458 on BSE in intra-day trade after its British luxury unit Jaguar Land Rover (JLR) reported 11% rise in sales at 51,591 units in June 2017 over June 2016.

“Retail sales for June were up year-on-year in China (65.3%), the UK (3.8%), Europe (3.7%) and North America (3.2%) whilst sales in overseas markets were down 8.5%,” JLR said in a press release.

Jaguar sales reached 15,343 vehicles in June, up 16.4% on June last year, with strong continued sales from F-PACE and the long wheel base Jaguar XFL in China. Land Rover retailed 36,248 vehicles in June, up 8.9% on the same month last year led by continuing strong demand for Discovery Sport and strong sales of Range Rover, it added.

The company also said, sales of the new Discovery continue to grow following its launch in North America and China. The new Range Rover Velar will begin sales in July.

Retail sales for the first quarter (April to June, 2017) totalled 132,463 vehicles, up 3.5% compared to the same quarter last year.

Andy Goss, Jaguar Land Rover Group Sales Operations Director, said: “Jaguar Land Rover saw another positive performance in June, led by strong sales in China, both from imported vehicles and our Chinese joint venture.

At 11:31 am; the stock was up 2.5% at Rs 448 on BSE, as compared to 0.58% rise in the S&P BSE Sensex. The trading volumes on the counter jumped more than three-fold with 1.3 million