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.
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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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