Tata Motor shares jumped about 2 percent after its luxury car unit Jaguar Land Rover recorded its best sales performance in the U.S. since 2003. JLR, which contributes nearly 90 percent to Tata Motors' operating profit, saw total U.S. sales jump 46 percent to 9,329 units in August from 6,368 units in the same month last year, the company said in a press release.
Jaguar sales stood at 3,298 units against 1,143, a year-on-year increase of 183 percent. Land Rover sales touched 6,031 units, increasing 15 percent from 5,225 units, on a yearly basis.
JLR's India sales, however, declined to 155 units in August as compared to 172 units in the same month a year ago, Tata Motors said in an exchange filing on the Bombay Stock Exchange.
Tata Motors Ltd.'s total sales grew 6 percent to 43,061 vehicles in August 2016, from the 40,679 vehicles sold in the corresponding month last year.The automobile manufacturer's sales performance for August 2016 was led by a 16 percent increase in domestic sales of passenger vehicles to 13,002 units compared to 11,163 units sold in August 2015, it said in a press release on Thursday.
Also Read: Tata Motors Sales Grow 6% In August; Shares Rise On Passenger Sales Pickup
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