Despite Weak JLR Sales Data, Tata Motors Extends Gains

Tata Motors has extended its Wednesday’s gains. The stock was trading higher by nearly 1.5% at around Rs 437.5 per share in first half of Thursday’s trade.

The stock is moving upwards despite reporting weak growth in Jaguar Land Rover’s UK sales.

Jaguar Land Rover (JLR) North America, LLC on Wednesday reported June 2017 US sales. Jaguar sales were 2,946 units, a 7% increase from 2,743 units in June 2016; Land Rover sales increased slightly to 5,760 units; Jaguar Land Rover June US sales for both brands hit 8,706 units, a 3% increase from 8,448 units in June 2016. Year to date, Jaguar Land Rover was up 19% in the United States.

For the month of June, Land Rover sales hit 5,760 units, the best June sales month for the brand. The Range Rover had its second-best June sales month with 1,382 sales, up 23%  from 1,125 units sold in June 2016 while Range Rover Sport was the volume leader with 1,594 units sold.

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