Tata Motors‘, luxury car subsidiary, Jaguar Land Rover (JLR) reported sales of 10,807 units in September. This is a 33% jump from the 8,125 units sold in the same month last year.
What Happened: Jaguar’s sales for the month stood at 1,814 cars, an around 10% dip from the 2,008 units sold in the same month last year. Land Rover saw a jump of around 47% to 8,933 units, compared to 6,117 cars sold in September 2023. The luxury car makers sold 2,681 cars in August and 6,121 units in July.
Domestically, total sales of the Tata Group company crashed 15% to 71,345 vehicles, missing analysts’ estimates. Sales of commercial vehicles stood at 30,032 units, declining 23% from last year.
Passenger vehicle sales dipped to 41,063 units, compared to the 44,809 units sold in the same month last year.
The declining sales have resulted in a sharp decline in Tata Motors shares over the past few weeks. The stock has slipped around 15% in the last 30 days.
Price Action: Tata Motors’ share price was up 0.038% to trade at ₹926.05 on Friday afternoon.
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Tata Motors‘, luxury car subsidiary, Jaguar Land Rover (JLR) reported sales of 10,807 units in September. This is a 33% jump from the 8,125 units sold in the same month last year. What Happened: Jaguar’s sales for the month stood at 1,814 cars, an around 10% dip from the 2,008 units sold in the same month last year. Land Rover saw a jump of around 47% to 8,933 units, compared to 6,117 cars sold in September 2023. The luxury car makers sold 2,681 cars in August and 6,121 units in Jul See Also: FIIs Increase Stake In HDFC Bank, Second Tranche Of MSCI Weight Increase LikelyTata Group company crashed 15% to 71,345 vehicles, missing analysts’ estimates. Sales of commercial vehicles stood at 30,032 units, declining 23% from last year. The declining sales have resulted in a sharp decline in Tata Motors shares over the past few weeks. The stock has slipped around 15% in the last 30 days.
JLR has not announced which electric model would be manufactured at Halewood first.
However, the investment would allow the factory to produce electric versions of its Range Rover Evoque and Discovery Sport models alongside the existing combustion and hybrid versions, the company said.
JLR said the factory upgrades would include robots, a new body shop capable of producing 500 vehicle bodies per day and new ovens for drying paint.
The company, owned by India’s Tata Motors, said it was also investing a total of £18bn in its reimagine programme, which aimed to have all its vehicles electric-only by 2030.
Barbara Bergmeier, executive director of industrial operations, said Halewood would be the company’s first “all-electric production facility”.
She added the site had been the “heart and soul of JLR in the north-west of England for well over two decades”.