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Jaguar Land Rover Announces August Sales

Posted On: 2018-09-07 16:19:46

Jaguar Land Rover today reported total retail sales of 36,629 vehicles in August 2018, down 4.9% year on year.

Retail sales were up in the UK (64.9%), Overseas markets (20.2%) and North America (2.5%), with Europe slightly below last year (3.1%), waiting for last WLTP certifications. The China market remains unsettled following tariff changes and trade tensions (down 38.1%), although the reduction in duty from 25% to 15% is expected to be beneficial over the full year. UK sales were boosted by a catch up in WLTP certification of vehicles with only 2 derivatives remaining to be certified in September.

Jaguar retail sales were 11,802 vehicles in August, up 7.7% year on year, driven by the introduction of the E-PACE and I-PACE, as well as XE long wheelbase sales in China.

Land Rover retailed 24,827 vehicles in August, down 9.9% compared to August 2017 as increased sales of the Velar and the refreshed Range Rover were offset by the impact of the lower sales in China on Range Rover Evoque and Discovery Sport in particular.

Jaguar Land Rover total retail sales for the calendar year to date were 390,992, down 2.6% compared to the same period of last year.

Felix Brautigam, Jaguar Land Rover Chief Commercial Officer, said: "We are continuing to see challenges in our key markets. The China market is seeing uncertainty following tariff changes and trade tensions although lower tariffs on UK imports should be beneficial over the full year. Concerns over diesel and Brexit continue to weigh on the industry in the UK and Europe although August UK sales were encouraging.

"Amid industry-wide delays we made excellent progress to vehicle certification last month. Most of our vehicles are now WLTP certified. Hence, we are confident that our award winning vehicle line-up will boost sales as we move into the autumn months.

"For Jaguar, we are expecting a strong second half of the year. Sales of the Jaguar I - PACE, supported by a wave of critical acclaim by the international media, have only just begun and the new E-PACE will join our product line-up in China.

"Refreshed Land Rover models, in particular the new Range Rover and Range Rover Sport plug-in variants, have a growing customer base. Strong demand for the Range Rover Velar, 2018 World Car Design of the Year, continues to drive sales."

Shares of TATA MOTORS LTD. was last trading in BSE at Rs.277.5 as compared to the previous close of Rs. 269.95. The total number of shares traded during the day was 2165591 in over 16437 trades.

The stock hit an intraday high of Rs. 279.95 and intraday low of 269.2. The net turnover during the day was Rs. 598620141.


Source: Equity Bulls

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