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Jaguar Land Rover retail sales down 4.1% in February 2019

Posted On: 2019-03-07 15:56:27

Jaguar Land Rover retail sales in February 2019 were 38,288 vehicles, down 4.1% 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, with sales of the all new Evoque expected to ramp up over the coming months.

Retail sales were up significantly in North America (25.4%), UK (11 .3%) and modestly higher in Europe (1.1 %) but weaker market conditions continued to weigh on sales in China (down 47.6%).

Jaguar retail sales in February were 12,235 vehicles, up 5.8% year-on-year reflecting increased sales of E-PACE and the all-electric I-PACE which is celebrating having just won the prestigious European Car of the Year award.

Land Rover retailed 26,053 vehicles in February, down 8.1% 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.

Felix Brautigam, Jaguar Land Rover Chief Commercial Officer, said: "In the face of ongoing macro-economic challenges being felt by the automotive industry, particularly in China, our strong sales growth in North America, UK and Europe reflect continued demand for our exciting product line-up and two strong brands. Encouragingly, all three regions posted sales growth against an industry decline. In North America high customer demand even resulted in the region's best ever February sales numbers.

"Demand for the sporty compact E-PACE and the all-electric I-PACE powered growth for the Jaguar brand in key regions. After many awards and media accolades from around the world seeing the I-PACE named European Car of the Year makes us very proud. This recognition highlights an appreciation for Jaguar's innovation by automotive experts and customers alike- as it was in its founding years. We also expect a further boost with the refreshed XE coming to market now, which turned out almost like a new car and definitely worth a close look.

"Despite strong sales of the Range Rover and Range Rover Sport, we saw a dip in sales for the Land Rover brand during the month. However, we can expect improvement as we launch the all new refined, compact yet sophisticated Range Rover Evoque with bold technology innovation, hybrid powertrain and space-efficient platform, pre-orders for which are promising."

Jaguar Land Rover total retail sales for the 11 months to 28 February 2019 were 502,020, down 5.4% compared to the same period last year.

Shares of TATA MOTORS LTD. was last trading in BSE at Rs.188.55 as compared to the previous close of Rs. 194. The total number of shares traded during the day was 1918813 in over 11144 trades.

The stock hit an intraday high of Rs. 198.3 and intraday low of 184.75. The net turnover during the day was Rs. 366238917.


Source: Equity Bulls

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