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Jaguar Land Rover reports second fiscal quarter sales figures

Posted On: 2019-10-07 21:05:50

Jaguar Land Rover retail sales for the quarter ending 30 September 2019 were 128,953 vehicles, slightly down (-0.7%) compared to the same period a year ago.

These results reflect an encouraging recovery of Jaguar Land Rover retail sales in China (up 24.3%), with a third consecutive month of double-digit sales growth for the company in the region. Sales were also up slightly in Europe (+0.9%), offset by lower sales in the US (-1.0%), UK (-5.1 %) and in Overseas markets (-19.2%).

Retail sales of the Range Rover Evoque continued to grow (+54.6%) with sales of the all-new model only just starting in China. Sales were also up strongly for the Range Rover Sport (+17.5%) and Jaguar I-PACE (sales of 3,666 units, up 2,593 units). Models with lower year-on-year figures include the Land Rover Discovery Sport with sales of the new mid-cycle refreshed model still ramping up and sales in China only starting later in the year.

Jaguar retail sales for the quarter were 37,323 vehicles, down 11.0% year-on-year and Land Rover retails were 91 ,630 vehicles, up 4.2% year-on-year.

Felix Brautigam, Jaguar Land Rover Chief Commercial Officer, said: "Against challenging market headwinds, for the third consecutive month we have achieved double-digit growth in China, benefitting from our local turnaround plan and performing ahead of the broader market. We have also outperformed shrinking markets in other regions.

"Despite these negative market trends, Land Rover sales saw year-on-year growth in the quarter. The all-new, significantly more refined Range Rover Evoque contributed to this. A comprehensively updated and well-received new Discovery Sport will support this positive development in the months to come. Range Rover and Range Rover Sport remain key pillars of our performance with strong demand for their innovative plug-in hybrid versions in many markets.

"September saw the global reveal of the New Defender, the world's most iconic 4x4. We were overwhelmed and excited by the positive public reaction to the latest addition to our line-up, which will give the whole Land Rover brand even more momentum in the future. The Land Rover family is complete now: while each Land Rover vehicle is the most capable in its respective segment, the New Defender is our most durable off-roader ever, completely re-invented for the digital age. For those who seek a more versatile premium SUV, the successful Discovery family is our enticing alternative. The Range Rover family, inventor of the luxury SUV almost 50 years ago, offers the ultimate in refinement.

"Whilst some of the traditional Jaguar segments are struggling in the current macro-economic environment, the treble World Car Award-winning I-PACE continues to attract new customers to the Jaguar brand."

Shares of TATA MOTORS LTD. was last trading in BSE at Rs.117.45 as compared to the previous close of Rs. 119.55. The total number of shares traded during the day was 2006001 in over 8344 trades.

The stock hit an intraday high of Rs. 120.5 and intraday low of 116. The net turnover during the day was Rs. 237628329.


Source: Equity Bulls

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