Breaking News

You are here » Indian-Commodity  :  Top News  :  Tata Motors' arm reports 4.6% fall in retail sales in 2018

11-Jan2019

Tata Motors' arm reports 4.6% fall in retail sales in 2018

Tata Motors' wholly owned subsidiary -- Jaguar Land Rover (JLR) has reported retail sales of totalled 592,708 vehicles in 2018, down 4.6% compared to 2017's record year. The introduction of the Jaguar E-PACE and I-PACE led to Jaguar's best ever annual sales results in 2018 up 1.2% to 180,833. However, this was more than offset by market weakness in China impacting on sales of established models. The lower sales in China (-21.6%) were partially offset by stronger sales in North America 7.2% and Overseas (7.3%). Weaker market conditions primarily relating to diesel and Brexit also weighed on sales in the UK (-1.5%) and Europe (-7.8%). The all new Range Rover Evoque has now been announced and will be going on sale later this year.

Retail sales for the month of December were 52,160, down 6.4% year-on-year primarily reflecting ongoing challenging market conditions in China (down 42.4%) as slowing economic growth and trade tensions with the US continue to impact automotive sales volumes across the industry, which were lower for the sixth consecutive month.

Jaguar Land Rover continues to work closely with retailers in China to respond to the present market conditions. Jaguar Land Rover generated strong December retail sales growth in North America (21.4%), Europe (7.6%) and the UK (7.8%), outperforming the industry in each of these markets, while sales in overseas markets fell 9.6% year-on-year.

Tata Motors is India's largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.



Related News

View all news

Gold futures trade higher on Monday

Gold futures traded higher on Monday, owing to increased safer asset investments amid receding concerns on global growth slowdown and worries on a potential US recession. Moreover, dimmer global market......

Turmeric futures trade higher on NCDEX

Turmeric futures traded higher on NCDEX on enlarged positions counting on uptick in demand for the crop in the physical market. However, new season arrivals and good production prospects, capped the upside......

Crude oil futures plunge on weak overseas cues

Crude oil futures plunged on MCX as speculators trimmed their position after tracking weak trend overseas amid worried about the prospect of a recession in the United States. The contract for April delivery......

Top News

View all news

Lupin receives USFDA's approval for Sildenafil Tablets

Lupin has received approval for its Sildenafil Tablets USP, 25 mg, 50 mg, and 100 mg from the United States Food and Drug Administration (USFDA) to market a generic version of Pfizer Inc's Viagra Tablets,......

HCL features as leader in Everest Group's Cloud Enablement Services PEAK Matrix Assessment 2019

HCL Technologies (HCL) has been recognized as a leader in Everest Group's Cloud Enablement Services PEAK Matrix Assessment 2019. Everest Group assessed the global cloud enablement service providers and......

Time Technoplast bags order for supply of PE Pipes

Time Technoplast has secured an order for supply of High Quality, High Pressure PE Pipes for prestigious water supply project in India assisted by International Development Agencies. This order from India's......