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NEW DELHI: Shares of Tata Motors climbed 5 per cent in Tuesday's trade after the automaker said September quarter sales of its arm Jaguar Land Rover at 1,13,569 units were up 50 per cent sequentially over 74,067 units in the June quarter. Sales, however, were down 11.9 per cent over 1,13,569 units in the same quarter last year.
Following the development, the stock rose 5.2 per cent to hit a high of Rs 141 on BSE.
The company's sales in China were particularly encouraging during the period under review, up 14.6 per cent over the previous quarter and 3.7 per cent on a year-on-year basis, the Tata group firm said.
Retail sales in other regions, including the UK, Europe, North America and other markets, also significantly improved from the prior quarter, JLR said.
However, sales in these regions have not yet recovered to the levels a year ago, it added.
"Covid-19 and second lockdowns continue to impact the global auto industry, but we are pleased to see sales recovering across our markets. In China, the first region to come out of lockdown, our performance has been particularly encouraging," JLR Chief Commercial Officer Felix Brautigam said.
The recovery has been demand-led and the company has been able to reduce stocks to achieve ideal levels in most markets, despite the ongoing pandemic, to support a healthier and more profitable business, he added.
Almost all of its retailers worldwide are now open or partially open and the plants have resumed production with robust protocol and guidelines in place, the automaker said.
The vehicle manufacturing plants at Solihull (UK), Halewood (UK) and Nitra (Slovakia), as well as the Engine Manufacturing Centre (UK), have now increased to a two-shift pattern to meet increasing demand, it added.
Following the development, the stock rose 5.2 per cent to hit a high of Rs 141 on BSE.
The company's sales in China were particularly encouraging during the period under review, up 14.6 per cent over the previous quarter and 3.7 per cent on a year-on-year basis, the Tata group firm said.
Retail sales in other regions, including the UK, Europe, North America and other markets, also significantly improved from the prior quarter, JLR said.
However, sales in these regions have not yet recovered to the levels a year ago, it added.
"Covid-19 and second lockdowns continue to impact the global auto industry, but we are pleased to see sales recovering across our markets. In China, the first region to come out of lockdown, our performance has been particularly encouraging," JLR Chief Commercial Officer Felix Brautigam said.
The recovery has been demand-led and the company has been able to reduce stocks to achieve ideal levels in most markets, despite the ongoing pandemic, to support a healthier and more profitable business, he added.
Almost all of its retailers worldwide are now open or partially open and the plants have resumed production with robust protocol and guidelines in place, the automaker said.
The vehicle manufacturing plants at Solihull (UK), Halewood (UK) and Nitra (Slovakia), as well as the Engine Manufacturing Centre (UK), have now increased to a two-shift pattern to meet increasing demand, it added.