Tata Motors shares rallied over 3 per cent on Friday after its subsidiary – Jaguar Land Rover (JLR) posted its best ever July retails sales by registering a 34 per cent year-on-year jump at 44,486 units. JLR said that strong sales of the Land Rover Discovery Sport, the Jaguar XE and the F-PACE contributed to the impressive sales number. The company’s China retail sales were up 64%, whereas North America sales rose 51% YoY. Europe and UK retail sales grew 24% and 38% year-on-year, respectively.
Tata Motors share price ended 3.21 per cent up at Rs 516.35. The scrip opened at Rs 506 and touched a high and low of Rs 519.30 and Rs 502.25, respectively. According to Tata Motors release, Jaguar Land Rover is one of the UK’s largest exporters and generates over 80 per cent of its revenue from exports.
Jaguar recorded its best July retail sales ever at 13,198 units, up 91 per cent on the previous year, citing launch of the F-PACE as well as continued solid sales of the XE. Region wise, Jaguar’s sales more than doubled year-on-year in North America. In China, Jaguar sales more than tripled versus July 2015. Calendar year-to-date sales for Jaguar were 74,858 up 69 per cent year-on-year.
For the month ended July 2016, Land Rover posted 19 per cent rise in retail sales to 31288 units. On a year-to-date basis till July 2016, the comany had sold 261194 units, registering a growth of 15%.
Andy Goss, Jaguar Land Rover Group sales operations director said, “This has been another record month for Jaguar Land Rover with impressive sales across both of our brands. The Discovery Sport and the Jaguar XE have delivered record July sales performances and the Jaguar F-PACE is in popular demand with our customers, reflecting the global appeal of our strongest ever vehicle line up.”