Jaguar's sales rise 26%; Tata Motors' stock flat
Tata Motors shares were trading flat after Jaguar posted sales of 36,926 vehicles in August, an increase of 26% when compared to the same period last year.
Shares of the company edged up 0.11% to Rs 590 per share intraday on BSE.
“The month’s performance has been driven by strong sales of the Land Rover Discovery Sport, the Jaguar F-PACE and XE,” the company said in a statement.
The F-PACE was labelled as the fastest selling car in the company’s history with total Jaguar sales reaching 85,726 units sold from January to August.
Jaguar Land Rover sold 372,978 vehicles in the first eight months of 2016, up 24% while Jaguar sales recorded 104% rise on the launch of F-PACE and XE as compared to the same period last year, the company stated.
In August, Jaguar Land Rover delivered solid performances in North America and Europe with retail sales increasing by 45% and 37% respectively compared to August 2015, the company stated.
Retail sales were 36% up in China, 3% down in the UK, and 2% down in other overseas markets.
Calendar year-to-date sales for Jaguar were 85,726 up 72% year-on-year.
Land Rover strengthened its position as a world-leading manufacturer of all-terrain SUVs, with its strongest August sales of 26,058 vehicles, up 9% year-on-year. The strong sales were led by the Discovery Sport, retailing 7,053 vehicles. Calendar year-to-date sales for Land Rover reached 287,252 vehicles, 14% up on the prior year.