Tata Motors share price under pressure after fall in JLR October US sales
The luxury car maker's US sales declined 4.4 percent year-on-year to 8,368 units in October, dented by degrowth in both brands.
Moneycontrol News
Tata Motors share price fell as much as 1.5 percent in morning on Thursday after disappointing sales reported by subsidiary Jaguar Land Rover. The fall in stock price also could be due to profit booking as it had rallied 2 percent in previous session post domestic sales data.
The luxury car maker's US sales declined 4.4 percent year-on-year to 8,368 units in October, dented by degrowth in both brands.
JLR had sold 8,751 units in same month last year.
Jaguar sales in October dropped 10.2 percent to 2,891 units and Land Rover sales were down 1 percent to 5,477 units on year-on-year basis.
Meanwhile, Tata Motors on Wednesday said its domestic passenger and commercial vehicle business recorded a growth of 5 percent at 48,886 units in October year-on-year, led by festive demand across segments, increased positive customer sentiments and introduction of new products.
The M&HCV trucks segment grew by 8 percent to 11,391 units and the I&LCV truck segment also saw an upward trend and rose by 7 percent to 3,760 units compared with year-ago month.
The pickup segment at 5,604 units in October 2017 reported a strong growth of 45 percent with the Tata Xenon Yodha and ACE Mega XL, the company said.
In October, Tata Motors passenger vehicles recorded sales of 16,475 units, a growth of 1 percent over October 2016. This was supported by continued good performance of new generation vehicles Tiago, Tigor, Hexa and an excellent response received for the newly launched compact SUV, Nexon.
At 10:15 hours IST, the stock price was quoting at Rs 432.60, down Rs 4.15, or 0.95 percent on the BSE.
