devang dhanaawde

Tata Motors hits 8-month high post JLR December retail sales numbers

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Shares of Tata Motors hit an eight-month high of Rs 199, up 3 per cent on the BSE on Friday after its UK arm Jaguar Land Rover (JLR) reported retail sales of 52,814 vehicles for December 2019, up 1.3 per cent from the previous year. The stock of Tata Group commercial vehicles major was trading at its highest level since May 7, 2019.

“For the month of December, JLR retail sales were boosted by China (up 26.3 per cent year-on-year), a sixth successive month of double-digit growth. This offset lower sales in North America (-1 .1 per cent), UK (-2.9 per cent), Europe (-5.3 per cent) and in Overseas markets (-7.6 per cent),” Tata Motors said in a press release.

Felix Brautigam, Jaguar Land Rover Chief Commercial Officer, said “Over the last six months we saw a marked improvement in China, where intensive work with our retailers, combined with significant process and product improvements are starting to gain traction. Elsewhere, adverse market conditions continued to affect the industry, but encouragingly in North America we closed 2019 successfully with a new record year.”

Meanwhile, analysts expect Tata Motors to report first quarter of growth in October-December quarter (Q3FY20) after six consecutive quarters of a decline in profit. 

Analysts expect Tata Motors’ consolidated EBITDA (earnings before interest, tax, depreciation and amortisation) margin to improve on an expansion in JLR’s margins due to better mix and cost-reduction efforts. Standalone margins are expected to contract on a lower scale, adverse mix and higher discounts.

For full story, please visit my bloghttps://mywheel4.blogspot.com/2020/01/tata-motors-hits-8-month-high-post-jlr_11.html

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