Tata Motors Ltd. owned Jaguar Land Rover saw a drop in sales in April due to a substantial fall in demand from the U.K. and some other overseas markets.
Total sales fell 2.3 percent during the month to 2,19,891 vehicles, compared to a 9.9 percent increase in the year-ago period, the company said in an exchange filing. This can be attributed to a 35 percent fall in sales in the U.K.
“In the U.K., customers purchased vehicles before the increase in vehicle tax on April 1. In addition, the run-out of the previous Discovery model accounted for a year-on-year decrease in Land Rover sales,” said Andy Goss, director, sales operation of Jaguar Land Rover Group.
Demand is expected to pick up from May, as the company launches its new Discovery model, especially in two of its largest markets, China and North America.
North America registered 32.5 percent increase in sales, while China posted 10.1 percent increase. Sales in the European market rose 2.7 percent. Sales in other overseas markets, however, fell 19.7 percent.
Jaguar Rules Over Land Rover
Jaguar continued to dominate sales with 54 percent jump in April, retailing 12,310 vehicles. The premium vehicle manufacturer’s sales stood at a record high during the month, according to the statement.
Jaguar's popular F-PACE continued to boost sales along with other models XE and XFL from its Chinese joint venture with Chery.
Land Rover’s sales, on the other hand, fell 15.8 percent during the same period because because of the discontinued Discovery models and a slowdown in sales of other models.
Shares of Tata Motors fell as much as 2.4 percent to Rs 426 after the announcement.
RECOMMENDED FOR YOU
POPULAR