Tata Motors sees choppy ride despite strong sales report from JLR

This has been a slightly bumpy ride for Tata Motors shares on the Indian bourses today, despite the company’s UK subsidiary Jaguar Land Rover reporting strong sales growth in February 2017.Tata Motors Limited’s wholly-owned subsidiary Jaguar Land Rover (JLR), the manufacturer of premium luxury vehicles, reported its best ever February sales performance in 2017. JLR’s total retail sales increased 9.3% to 40,978 vehicles in February 2017, over the same month last year, thanks to continuing strong sales of its variants Jaguar F-PACE, XE, Land Rover Discovery Sport, Range Rover and Evoque. The sales of the all new Land Rover Discovery is also now on.By region, JLR’s global retail sales performance for February showed significant growth. While in China, sales grew 40.4%, North America and the UK reported sales growth of 16.2% and 14.2%, respectively. However, in Europe, sales were up 1.6% and in other overseas markets, increased 6.5%.Jaguar retail sales jumped 81.1% to 12,203 vehicles in February 2017 over February 2016, driven by the ongoing success of the Jaguar F-PACE as well as solid sales of XE. Land Rover retail sales dropped 6.4% to 28,775 vehicles in February 2017 over February 2016.After rallying to Rs 475.20 from an early low of Rs 466.60, Tata Motors shares are now hovering around Rs 470, down slightly from previous closing price.Meanwhile, Tata Motors DVR, a Nifty50 component, is trading at Rs 282, down 0.3% from Monday’s closing price. It had advanced to Rs 285.75 earlier.

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