Tata Motors‘s luxury car subsidiary Jaguar Land Rover reported sales of around 2,681 units in the month of August. This is an around 81% increase from the 1,479 units sold in August 2023.
What Happened: Jaguar's sales for the month stood at 607 cars, a 74% jump from the 348 units sold in the same month last year. Land Rover saw a jump of around 83% to 2,074 units, compared to 1,131 cars sold in August 2023. The luxury car makers sold 6,121 units in July and 6,421 units in June.
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Domestically, the Tata Group company saw its total sales dip around 8% year-on-year in August to 71,693 units, compared to 78,010 units in the same month last year. Total domestic sales dropped by 8% to 70,006 units from 76,261 units in August 2023.
Last week, research firm JPMorgan reiterated its "overweight" rating on Tata Motors with a target price of ₹1,250. The Tata Group company is also in the process of converting its DVR shares into ordinary shares.
Price Action: Tata Motors’ share price was down 0.19% to trade at ₹1,078.35 on Thursday afternoon.
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