Tata Motors lost 1.15% to Rs 274.30 at 09:19 IST on BSE after the company's subsidiary Jaguar Land Rover reported 4.9% fall in total retail sales to 36,629 vehicles in August 2018 over August 2017.
The announcement was made after market hours on Friday, 7 September 2018.Meanwhile, the S&P BSE Sensex was down 62.28 points, or 0.16% to 38,327.54
On the BSE, 42,000 shares were traded in the counter so far compared with average daily volumes of 9.51 lakh shares in the past two weeks. The stock had hit a high of Rs 276.30 and hit a low of Rs 272.55 so far during the day. The stock hit a 52-week high of Rs 466.95 on 6 November 2017. The stock hit a 52-week low of Rs 243.25 on 13 August 2018.
Tata Motors subsidiary Jaguar Land Rover (JLR) reported 4.9% fall in total retail sales to 36,629 vehicles in August 2018 over August 2017. Jaguar retail sales were 11,802 vehicles in August, up 7.7% year on year, driven by the introduction of the E-PACE and I-PACE, as well as XE long wheelbase sales in China. Land Rover retailed 24,827 vehicles in August, down 9.9% compared to August 2017 as increased sales of the Velar and the refreshed Range Rover were offset by the impact of the lower sales in China on Range Rover Evoque and Discovery Sport in particular.
Retail sales were up in the UK (64.9%), Overseas markets (20.2%) and North America (2.5%), with Europe slightly below last year (3.1%), waiting for last WLTP certifications. The China market remains unsettled following tariff changes and trade tensions (down 38.1%), although the reduction in duty from 25% to 15% is expected to be beneficial over the full year.
Jaguar Land Rover is the UK's largest automotive manufacturer, built around two iconic British car brands: Land Rover , the world's leading manufacturer of premium all-wheeldrive vehicles; and Jaguar, one of the world's premier luxury sports saloon and sports car marques.
Tata Motors' reported consolidated net loss of Rs 1862.57 crore in Q1 June 2018 as compared to net profit of Rs 3199.93 crore in Q1 June 2017. Consolidated total income rose 8.09% to Rs 67306.06 crore in Q1 June 2018 over Q1 June 2017.
Tata Motors is a leading global automobile manufacturer of cars, utility vehicles, buses, trucks and defence vehicles.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
