Strong April JLR sales cheer Tata Motors, stock up more than 3%
Jaguar volumes were 8% yoy while Land Rover volumes were up 14% yoy in April 2018
Tata Motors Limited (TML) owned luxury car maker, Jaguar Land Rover (JLR) reported an impressive 12% yoy volume growth in April 2018, bringing cheers to investors. Sales were in negative territory in February and March 2018 and they had grown in lower single digits in the two months preceding February 2018. JLR sold a total of 45,180 vehicles in April 2018 vs. 40,385 vehicles in April 2017, a growth of 12% yoy. Sales were driven by new launches such as Range Rover Velar, Land Rover Discovery and Jaguar E-Pace. Volume growth was also helped by a weak base of April 2017, when sales had declined 2% yoy.
Within geographies, China, UK, North America and other overseas markets registered growth of 29% yoy, 26% yoy, 2.5% yoy and 21% yoy respectively in April 2018 while Europe declined 10% yoy. JLR has seen its volumes decline in 9 out of the past 12 months in Europe and UK. The management cautioned regarding uncertainty surrounding diesel sales in UK and Europe. Jaguar sales were up 8% yoy at 13,289 units in April 2018 while Land Rover sales were up 14% yoy.
Jaguar Land Rover Limited is a British multinational automotive company with its headquarters in Whitley, Coventry, United Kingdom, and a subsidiary of Indian automaker Tata Motors. The principal activity of Jaguar Land Rover Limited is the design, development, manufacture and sale of vehicles bearing the Jaguar and Land Rover (including Range Rover) marques.
Tata Motors Ltd is currently trading at Rs342.50 up by Rs10.4 or 3.13% from its previous closing of Rs332.10 on the BSE. The scrip opened at Rs332.10 and has touched a high and low of Rs346.75 and Rs331.10 respectively. So far 1,01,29,897 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs1,05,530.05cr.