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Tata Motors weakens on disappointing JLR April sales

Discussion in 'Stock Market News & Analysis' started by capitalstars05, May 4, 2016.

  1. capitalstars05

    capitalstars05 New Member

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    Shares of Indian auto major Tata Motors tanked 7% to Rs381 on NSE after its JLR US April 2016 retail sales declined marginally by 2% yoy; below estimates; negative
    JLR retail sales in the US market for the month of April 2016 declined marginally 2% yoy to 6,275 units and were below estimates. JLR underperformed the US car industry which reported a 3% growth in the month of April 2016.
    Jaguar sales at 1,087 units remained flat on yoy basis. In the corresponding month last year, Jaguar had retailed 1,079 units.

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