Tata Motors gains despite weak global wholesale

Tata Motors disappointed the Street by reporting weak global wholesale numbers on Thursday. The Tata Motors Group’s global wholesale, which includes sales of Jaguar Land Rover, was down 27 per cent YoY in September 2019.

The Jaguar Land Rover sales were lower by 27 per cent at 89,912 units as compared to September 2018. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in September 2019 were at 28,524 units, lower by 45 per cent as compared to sales of September 2018. Global wholesale of all passenger vehicles in September 2019 were at 61,388 units, lower by 14 per cent as compared to September 2018.

Tata Motors is India’s 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.

Despite weak sales number, the company is mulling ways to woo the customers with new launches amid the festive season. Recently, Tata Motors has launched its extended range Tigor EV Electric Sedan, with a range of 213 km, certified by Automotive Research Association of India (ARAI). The model will be available in 3 variants - XE+, XM+ and XT+ - for both fleet and personal segment customers. The new Tigor EV will be available across 30 cities, at a starting price of Rs. 9.44 lakh, ex-showroom Delhi.

The shares of Tata Motors on Friday opened at Rs. 117.70 as against Thursday’s close of Rs. 126.90. At 10:58 hours, it was trading at Rs. 118.15, up by 1.07 per cent from its previous close. The stock hit an intraday high of Rs. 119.85 and intraday low was Rs. 117.25. Its 52-week high was Rs. 239.30 and 52-week low was Rs. 106.00 per share on the BSE.