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Tata Motors dips over 2% on weak JLR global sales

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NEW DELHI: Tata Motors shares dipped over 2 per cent on Friday morning after the global sales of its struggling British arm Jaguar Land Rover declined 4.1 per cent to 38,288 units in February.

The scrip hovered at Rs 184.95, down 2.25 per cent at around 09:46 am while the benchmark BSE Sensex was down 0.25 per cent at 36,635.27.

"China continues to impact overall performance despite strong sales growth in North America and UK markets," the company said in a BSE filing.

"Land Rover range posted sales of 26,053 units in the month, down 8.1 per cent over a year-ago period," it added.

"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," said JLR Chief Commercial Officer Felix Brautigam.

The shares of Tata Motors opened at Rs 188.30 on BSE against its previous closing of Rs 189.20.




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