JLR October retail sales pulls Tata Motors up by nearly 2 per cent

Jaguar Land Rover (JLR) reported a 5.5 per cent YoY fall in its retail sales for October. On the contrary, the company reported a sales recovery in China, up by 16.2 per cent YoY, which was reflected an upward stock movement of Tata Motors.

For October 2019, the total retail sales were of 41,866 vehicles. Despite the dull environment for auto companies, sales in China increased for the fourth consecutive month, registering a double-digit growth. Comparatively, sales in other countries were rather disappointing as the UK sales declined by 18.7 per cent YoY and was down by 4.2 per cent on YTD basis. Sales in Europe and Overseas reduced 7.9 per cent and 10.8 per cent, respectively while sales in North America were relatively flat, down by 0.3 per cent.

The company reported a sales growth for its latest models of Range Rover, including Evoque, which is up by 31.4 per cent, Jaguar I-PACE, up by 9.1 per cent, and of the refreshed Land Rover Discovery Sport, which raised 3.4 per cent (all on YoY basis).

JLR retail sales for FY20 year to date, that is from April to October 2019, were 299,434 units, down by 6.3 per cent from the same period of the previous fiscal year.

Jaguar Land Rover is a subsidiary company of Tata Motors Ltd. engaged in designing, development, manufacturing, and selling of vehicles, bearing the Jaguar and Land Rover marques.

On Monday, the stock of Tata Motors Ltd. closed at Rs. 172, up by 1.68 per cent or Rs. 2.85 per share. The 52-week high is Rs. 239.30 and 52-week low is Rs. 106 on BSE.