Tata Motors falls 4% after weakness in China drags JLR global sales 4%

-

Weaker market conditions continued to weigh on sales in China, which posted a decline 47.6 percent YoY, JLR said.




Tata Motors shares declined nearly 4 percent in the morning on Friday after the Jaguar Land Rover's global sales performance dented by China.

US-based luxury car maker Jaguar Land Rover said its retail sales in February 2019 fell 4.1 percent to 38,288 vehicles, compared to February last year.

"Strong sales of I-PACE, E-PACE, refreshed Range Rover and Range Rover Sport were offset by overall weak customer demand in China as well as the run out of the old Range Rover Evoque," it reasoned.
The company said sales of the all-new Evoque are expected to ramp up over the coming months.

Retail sales were up significantly in North America (25.4 percent) and UK (11.3 percent) while Europe posted modestly higher growth of 1.1 percent in sales.

However, weaker market conditions continued to weigh on sales in China, which posted a decline 47.6 percent YoY, JLR said.
Jaguar retail sales in February increased 5.8 percent year-on-year to 12,235 vehicles, driven by increased sales of A-PACE and the all-electric I-PACE.

However, Land Rover retailed 26,053 vehicles in February, down 8.1 percent year-on-year as strong sales of the refreshed Range Rover and Range Rover Sport were more than offset by the run out of the Evoque and lower sales of other models primarily impacted by the weaker conditions in China.

JLR performance has been hitting the stock hard for long as it fell 47 percent in the last 1 year. At 10:46 hours IST, the stock was quoting at Rs 182.75, down Rs 6.45, or 3.41 percent on the BSE.

Best Share Market News, Click Here To Get More News - Share Market tips, for 2 Days Free Trial give a missed call @9644405056 and Get Share Market Services.

Comments

Post a Comment

Popular posts from this blog

Daily equity Market By Ripplesadvisory Report 16-Aug-2016

-
MARKET WRAP UP The Sensex and Nifty jumped over one per cent on Friday and were headed for their second session of gains, led by energy stocks, including Reliance Industries Ltd, as oil prices extended their rally. Domestic sentiment was also buoyed on continued buying by investors ahead of IIP and inflation data scheduled to be released later in the day. US stocks closed at record highs on Thursday as surging oil prices and strong earnings buoyed investor sentiment, giving a boost to Asian markets. Dealers said widening of positions by participants ahead of key economic data —— industrial production (IIP) for June and consumer price index (CPI) for July —— to be released after market closing today also added to the upbeat investor sentiment. At 3.05 pm, the Sensex was up 315.38 points or 1.13 per cent at 28,174.98 while the NSE Nifty was up 85.7 points or 1.00 per cent at 8,677.85. Sentiment also got a boost as foreign investors continued to buy Indian shares for a...
Read more

11-year data suggests bears control D-Street in September; can bulls defy odds?

-
Image
The Sensex was down 11 per cent in September 2008, 5.4 per cent in 2018 and dropped by 2.1 per cent in the same month in 2011, data from AceEquity shows. Indian markets remained in a bear grip in August and the trend is unlikely to shift towards the bulls with no big triggers expected in September, say experts. The month of September is off to a muted start, with both the Sensex and the Nifty trading below crucial support levels. The Sensex broke below 37,000 and the Nifty 11,000. Anecdotal evidence suggests that the index has given flat to negative returns in September in six of the last 11 years. The index saw a drop of more than 11 percent in September 2008, followed by 2018 when it slipped 5.4 percent, and in 2011 it dropped by 2.1 percent, data from AceEquity shows. Apart from two tall towers witnessed in 2009 and 2010, the gains in September in the 11-year period have not been that inspiring. The index rallied 10.2 percent in 2010, followed by 10.13 pe...
Read more

Oil prices mixed; Brent eases as trade tensions weigh

-
Image
U.S. West Texas Intermediate (WTI) crude futures were up 15 cents, or 0.2 percent, at $68.84 a barrel by 0309 GMT. WTI fell 1.3 percent on Friday. Oil prices were mixed on Monday with U.S. benchmark WTI nudging higher after four weeks of declines, while Brent began the week lower as the fallout from trade tensions weighed on markets. U.S. West Texas Intermediate (WTI) crude futures were up 15 cents, or 0.2 percent, at $68.84 a barrel by 0309 GMT. WTI fell 1.3 percent on Friday. Brent crude futures fell 5 cents to $74.24 a barrel, after notching up a 1.7 percent weekly increase last week, the first gain in four weeks. The U.S. economy grew at its fastest pace in nearly four years in the second quarter, but trade tensions remain high between Washington and Beijing despite an easing between the United States and the EU. "Concerns around the U.S.-China trade wars continue to weigh on prices, while the halt in Saudi shipments through the Red Sea waterway has seemi...
Read more