JLR sales disappoint market

Tata Motors reported a 21 per cent dip in Jaguar Land Rover (JLR) retail sales for the month of July 2018 on Friday. The sales numbers showed de-growth due to transitional issues faced by the company in various markets.

For July, the total retail sales of Jaguar Land Rover were 36,144 units compared to 46,074 units in the corresponding period last year, which is a drop of 21.6 per cent. Of which Jaguar sold 10,992 units, which is a dip of 15.2 per cent yoy at 10992 units, while Landrover was down 24.0 per cent yoy at 25,152 units.

Geographically, retail sales were down 46.9 per cent in China, where the company is facing the first month of change in duty as well as the negative impact of US-China trade war. While European sales were down 26.5 per cent on the back of delay in WLTP certification for new models. North America sales were down 9.5 per cent. The only respite was in the overseas segment with sales up 8.6 per cent.

Reacting to the news, at 12:42 the stock of Tata Motors was trading at Rs. 253.10 per share, up by 1.71 per cent on Friday, when the benchmark index BSE Sensex was at 37,914.89, down 109.48 points or 0.29 per cent.