Chinese market accelerates sale of JLR in June

Tata Motors has announced on July 8 that retail sales for Jaguar Land Rover (JLR) has reached 51,591 vehicles in June 2017, up by 11 per cent from June 2016. Also retail sales for Q1FY18 totalled 1,32,463 vehicles, up by 3.5 per cent as compared to Q1FY17. This increase was mainly driven by a healthy China market.

The sales of Jaguar reached 15,343 vehicles in June 2017, up by 16.4 per cent from June 2016, with strong continued sales from F-SPACE and the long-wheel base Jaguar XFL in China.

Land Rover retail sales were at 36,248 vehicles in June 2017, up by 8.9 per cent from June 2016, backed by continuing robust demand for Discovery Sport and strong sales of Range Rover. Also, sales of new Range Rover Velar will begin in July 2017.

Retail sales for June 2017 were up YoY in China by 65.3 per cent, UK - 3.8 per cent, Europe - 3.7 per cent and North America - 3.2 per cent, whereas sales in the overseas markets were down 8.5 per cent.

This announcement saw Tata Motors shares rallying and the rally continued on the second consecutive day. The stock has gone up by almost 5 per cent in two trading sessions from its closing of Rs.436.85 of July 7, 2017.

In today’s trade, the stock opened at Rs 451.25 and soared to an intra-day high of Rs.462.25 on the BSE.

Tata Motors Limited is mainly engaged in the business of automobile products consisting of all types of commercial and passenger vehicles. It operates in over 160 countries across the world.