Tata Motors shares rallied 2 percent intraday Thursday after Jaguar Land Rover reported a 10 percent growth in November sales.
Land Rover retailed 38,644 vehicles in November, up 17.2% compared to November of past year, primarily reflecting the sales ramp up of the all new Discovery and the introduction of the Range Rover Velar partially offset by softer sales of Range Rover Sport.
The company says retail sales of Jaguar's new compact SUV, the E-Pace, which was introduced in the United Kingdom and European market, helped it achieve the growth in sales.
Rohit Suri, President & Managing Director, Jaguar Land Rover India Ltd., said that the New Range Rover Velar is a symbol of sophisticated design, well-crafted interior, innovative features and technologies, backed by powerful and efficient powertrains. He further added that Jaguar Land Rover India is extremely delighted to bring the highly awaited and one of the most desirable SUVs which numerous customers are looking forward to own and drive.
Jaguar retail sales were 13,688 vehicles in November, down 6.3 percent compared to the same month past year, as sales of the long wheelbase XFL in China were more than offset by lower sales of XE.
Jaguar Land Rover retail sales were up in overseas markets (19.7 percent), China (19.1 percent), the United Kingdom (8.6 percent) and in North America (7.8 percent) but down 2.1 percent in Europe.
Land Rover retailed 38,644 vehicles in November, up 17.2 percent compared to November of a year ago, primarily reflecting the sales ramp up of the new Discovery and the introduction of the Range Rover Velar partially offset by softer sales of the Range Rover Sport.