Tata Motors surges 3 per cent on the back of strong JLR sales in US

India’s largest automobile manufacturer and maker of Jaguar and Land Rover soared in early trades post reporting strong US sales numbers for two consecutive months.

Jaguar Land Rover, UK's leading manufacturer of premium luxury vehicles, today reported strong set of US retail sales volume of 12,573 vehicles, an increase of 30 per cent from 9,638 units in December 2015, making it the best ever December retail month for Tata Motors.

The Jaguar sales were 4,294 units, a 259 per cent increase from 1,197 units in December 2015; Land Rover sales reached 8,279 units, a 2 per cent decrease from 8,441 units in December 2015. 

For the full year 2016, JLR's US sales were up 24 per cent to 105,104 units, as compared to 85,048 units sold in 2015. Therefore, making 2016 the best year ever in terms of retail sales was indicative of a great product mix.

The year-on-year growth in retail volumes was driven by strong sales of the new Jaguar XF and F-PACE as well as continuing solid sales of the Land Rover Discovery Sport and Range Rover Sport.

However, domestic sales of parent Tata Motors saw muted growth due to the demonetisation impact on various segments.

The stock of Tata Motors was trading with gains of 3 per cent at Rs 500.95 on the NSE.