Tata Motors soars 3% despite JLR sales decline to 28,887 units in August; China market sales improve

JLR registered a sales of 28,887 units in August 2020, declining by 15.5% yoy.

Sep 14, 2020 11:09 IST India Infoline News Service

Tata Motors
Tata Motors was among top-performing stocks during Monday's early session, despite the company's luxury brand Jaguar Land Rover (JLR) witnessing a decline in overall sales during August 2020 compared to the previous month and year-on-year.

On the positive front, sales in China and the overseas market has started to improve.

On Sensex, Tata Motors stock was trading at Rs148.05 per piece surging by 2.60% at around 10.57 am. The stock has also touched an intraday high of Rs148.60 per piece.

According to the regulatory filing, JLR registered a sales of 28,887 units in August 2020, declining by 15.5% yoy. In July 2020, JLR sales stood at 36,421 units.

Tata Motors said, "Jaguar Land Rover retail sales totalled 36,421 in July and 28,887 vehicles in the seasonally lower month of August. Although down year-on-year 4.0% and 15.5% respectively, both months represent further recovery from Q1 FY21 when sales were down 42.4% with June down 24.9%. Notably, UK retail sales in July and August were up significantly year-on-year, 29.1% and 14.3% respectively. The further recovery in July and August from the year-on-year decreases in Q1FY21 and/or June can also be seen in the regions."

On a geographical basis, sales in the China market stood at 8,187 units in August, down 6.8% yoy. However, the sales were better compared to 7,719 units sold in July 2020. In the overseas market, JLR saw sales of 4,236 units in August, contracting by 28.4% yoy, however, sales improved against 4,044  units sold in July 2020.

Europe and North America market were laggards in August 2020, with sales standing at 5,186 units and 8,180 units compared to 7,559 units and 8,433 units sold in July 2020. On a yoy basis, sales declined by 25.2% in Europe and by 16.8% in North America.

However, sales in the UK market continued to record growth in August, although at a slower pace compared to the previous month. Sales in August here stood at 3,098 units with a growth of 14.3% yoy. In July, the sales stood at 8,666 units. 

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