Tata Motors shares slip as JLR sales dip in February
18 Mar 2015
Shares of Tata Motors edged lower in morning trading today after the company reported that global sales of its luxury car brand Jaguar Land Rover declined for the month of February.
The UK-based JLR reported sales for February at 38,541 units, down 1.2 per cent year-on-year.
The stock was underperforming on both the Sensex and the Nifty.
The drop in sales could be due to lower despatches to China for the Evoque to clear inventory to start local production and gradual ramp-up for new models.
China is the main market for JLR – in India, the well-heeled prefer other luxury carmakers like Mercedes-Benz, BMW, or Volkswagen, as Tata's domestic car products are seen as shoddily engineered lemons – none of its passenger cars have really taken off here, though its tractors, trucks and buses continue to sell well.
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