Tata Motors shares gained as much as 1.29 per cent in early trade on Friday after the company informed bourses that its subsidiary — Jaguar Land Rover (JLR) has reported its best ever September retail sales of 61,047 vehicles, up 28 per cent compared to September 2015. The month’s performance has been driven by strong sales of the Land Rover Discovery, Discovery Sport, the Range Rover Evoque and the Jaguar F-PACE, as well as solid sales in China.
At 10.32 am, shares of Tata Motors were trading 1.32 per cent up at Rs 558.50. The scrip opened the day at Rs 554 and has touched a high and low of Rs 559.30 and Rs 552.85, respectively, in trade so far. Benchmark BSE Sensex was trading 33.77 points down at 28,072.
In a BSE filing, Tata Motors said, “Jaguar Land Rover delivered solid retail sales growth across all key regions year on year, with China up 50 per cent, Europe up 32 per cent, UK up 30 per cent, North America up 23 per cent and other overseas markets up 3 per cent. Jaguar Land Rover sold 4,34,025 vehicles in the first nine months of 2016, 24 per cent up on the same period in the prior year.”
Jaguar reported its best September ever, with retail sales reaching 17,640 vehicles, up 70 per cent on the previous year, reflecting the strong launch of the F-PACE as well as continued solid sales of the XE. Calendar year-to-date sales for Jaguar were 1,03,366 up 72 per cent year-on-year.
Land Rover strengthened its position as a world-leading manufacturer of all-terrain SUVs, with its strongest ever September sales of 43,407 vehicles, up 17 per cent year-on-year. The strong sales were led by the Discovery Sport, retailing 12,838 vehicles, up 50 per cent compared to last September, and Range Rover Evoque retailing 11,761 vehicles, up 53 per cent.