Tata Motors slips 3% as JLR sales drop in February

Retail sales in North America rose 25.4% yoy, in UK 11 .3% yoy, and in Europe 1.1 % yoy

Mar 08, 2019 10:03 IST India Infoline News Service

Shares of Tata Motors slipped 3% on Friday after Jaguar Land Rover (UK) sales dropped 4.1% yoy to 38,288 units in February amid weak demand in China.

Strong sales of I-PACE, E-PACE, refreshed Range Rover and Range Rover Sport was offset by overall weak customer demand in China as well as the run out of the old Range Rover Evoque, with sales of the all-new Evoque expected to ramp up over the coming months, the company said in a press note after markets hours to the exchanges on Friday.

Further, retail sales in North America rose 25.4% yoy, in UK 11 .3% yoy and in Europe 1.1 % yoy; however, weaker market conditions continued to weigh on sales in China, which are lower by 47.6% yoy.

Tata Motors Ltd's shares price is currently at Rs183.20, down by Rs6 or 3.17%, from its previous close of Rs189.20 on the BSE.
The scrip opened at Rs188.30 and has touched a high and low of Rs188.30 and Rs182.30, respectively. So far 1,06,61,766 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs59,454.33cr.

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