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Jaguar Land Rover September 2018 Sales

Posted On: 2018-10-08 17:38:12

Jaguar Land Rover today reported total retail sales of 57,114 vehicles in September 2018, down 12.3% year on year despite strong sales for new models including the Range Rover Velar and the Jaguar I-PACE and E-PACE.

Sales in China declined by 46.2%, as ongoing market uncertainty resulting from import duty changes and continued trade tensions held back consumer demand.

Jaguar Land Rover sales were down a modest 0.8% in the UK and 4.7% in Europe, which saw large industry declines of 20.5% in the UK and 31% in Germany primarily relating to the timing of new WLTP homologation rules as well as reduced diesel demand.

In North America, Jaguar Land Rover sales were 6.9% lower, largely reflecting lower industry sales (down 5.5%) and reduced incentives on Jaguar sedans, although Land Rover had a record September with sales up 7.3%.

Strong sales of new models including the electric Jaguar I-PACE, the Jaguar E-PACE compact SUV, and the Range Rover Velar helped offset slower sales of older models, such as the Range Rover Evoque and the Land Rover Discovery Sport.

As part of the company's continued strategy for profitable growth, Jaguar Land Rover is focused on achieving operational efficiencies and will align supply to reflect fluctuating demand globally as required.

Felix Brautigam, Jaguar Land Rover Chief Commercial Officer, said: "As a business we are continuing to experience challenging conditions in some of our key markets. Customer demand in China in particular has struggled to recover following changes in import tariffs in July and intensifying competition on price, while ongoing global negotiations on potential trade agreements have dampened purchase considerations. Despite this, we expect lower tariffs on UK imports to be beneficial over the full year.

"For Jaguar, we are continuing to see positive customer response to new products to market. The all-electric I-PACE and the sporty E-PACE compact SUV in particular, which have only recently joined our line-up in China, are driving demand globally.

"While sales of Land Rover models ahead of upcoming new and refreshed models are lower, we are encouraged to see strong customer demand for the new Range Rover Velar and Range Rover and Range Rover Sport Plug-in Hybrid variants as we head into the winter months."

Shares of TATA MOTORS LTD. was last trading in BSE at Rs.212.75 as compared to the previous close of Rs. 216.55. The total number of shares traded during the day was 1342852 in over 11702 trades.

The stock hit an intraday high of Rs. 218.95 and intraday low of 208.15. The net turnover during the day was Rs. 287583208.


Source: Equity Bulls

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