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Tata Motors slips after JLR global sales decline in September

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Shares of were down 4.49% at Rs 203.20 at 10:11 IST on BSE.

Jaguar (JLR) reported total of 57,114 vehicles in September 2018, down 12.3% year on year despite strong sales for new models including the Velar and the Jaguar I-PACE and E-PACE.

Sales in declined by 46.2%, as ongoing market uncertainty resulting from import duty changes and continued trade tensions held back consumer demand.

Jaguar sales were down a modest 0.8% in the UK and 4.7% in Europe, which saw large industry declines of 20.5% in the UK and 31% in primarily relating to the timing of new WLTP homologation rules as well as reduced diesel demand.

In North America, Jaguar sales were 6.9% lower, largely reflecting lower industry sales (down 5.5%) and reduced incentives on Jaguar sedans, although Land Rover had a record September with sales up 7.3%.

Strong sales of new models including the electric Jaguar I-PACE, the Jaguar E-PACE compact SUV, and the Velar helped offset slower sales of older models, such as the Evoque and the Land Rover Discovery Sport.

As part of the company's continued strategy for profitable growth, is focused on achieving operational efficiencies and will align supply to reflect fluctuating demand globally as required.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, October 09 2018. 10:11 IST
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