Tuesday, October 6, 2015

JLR's United States sales surged 61%

Reports that Tata Motor’s Jaguar Land Rover (JLR) units' United States sales surged 61% in September to 6,850 units.

“Demand for Range Rover and Evoque sport utility vehicles (SUVs) carried the Land Rover brand to its best September ever for U.S. deliveries and a record for sales though the first nine months. Jaguar sales will get a boost from the introduction of the new XF sedan this year and upgrades of other models in 2016,”the Bloomberg report suggest quoting Joe Eberhardt, Jaguar Land Rover’s chief executive officer for North America.

Meanwhile, on clarification of news report “Peugot, Tatas may Join Hands”, Tata Motors said that, while the company may be pursuing several initiatives at a given point of time, there has been no significant event that requires a disclosure as per Clause 36 of the Listing Agreement.

In past two trading sessions, the stock has rallied 11% from Rs 297 on Thursday, October 1, compared to 2% rise in the Sensex.

However, thus far in 2015, Tata Motors has under-performed the market by falling 33% on uncertainty regarding the slowing of its automobile sales in China. The benchmark index declined 3% so far in the current calendar year.

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