Tata Motors‘ luxury car subsidiary, Jaguar Land Rover (JLR) sold 5,257 units in October. This is a 12.8% slump from the 6,031 units sold in the same month last year.

What Happened: Jaguar's sales for the month stood at 1,405 cars, an around 3% dip from the 1,449 units sold in the same month last year. Land Rover saw a jump of around 16% to 3,852 units, compared to 4,582 cars sold in September 2023. The luxury car makers sold 10,807 units in September and 2,681 cars in August.

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Domestically, The auto giant reported total sales of 82,682 vehicles in October 2024, slightly down from 82,954 in October 2023, surpassing estimates by Motilal Oswal and Anand Rathi, who predicted 78,400 and 79,500 units, respectively.

Domestic sales were nearly unchanged at 80,839 units compared to 80,825 last year. Commercial vehicle sales reached 34,259 units, close to last year's 34,317, while passenger vehicle sales were steady at 48,423 units, compared to 48,637 in October 2023. The company will post its earnings later this week on Friday.

Price Action: Tata Motors’ share price was up 1.4% to close at ₹835.60 on Tuesday. Shares of the company that have been taking a beating for the past few weeks recovered a bit today, however, technical analysts see more pain ahead.

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