Tata Motors global sales up 22% in November

The Tata Motors Group global wholesales in November 2017, including Jaguar Land Rover, were at 1,12,473 nos., higher by 22%, over November 2016.

Wholesales of passenger vehicles rose 10% to 71,628, including JLR.

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Further, Tata claims its Jaguar Land Rover clocked total global sales of 54,244 units, out of which 12,287 units were that of Jaguar and 41,957 units were of Land Rover.

The company said sales during the month were primarily driven by the introduction of the new Land Rover Discovery and the Range Rover Velar. The total number of shares traded during the day was 593359 in over 5478 trades.

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The stock is now trading at Rs413.1, up by Rs11 or 2.74% from its previous closing of Rs402.1 on the BSE.

TML, on the consolidated level, derives ~80% of its revenue from the wholly owned subsidiary, JLR, which had witnessed EBITDA margin decline in FY16 and FY17 on account of weakness in volumes growth, model mix and forex losses.

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