Strong April JLR sales cheer Tata Motors, stock up more than 3%

Jaguar volumes were 8% yoy while Land Rover volumes were up 14% yoy in April 2018. Tata Motors Limited (TML) owned luxury car maker, Jaguar Land Rover (JLR) reported an impressive 12% yoy volume growth in April 2018, bringing cheers to investors. Sales were in negative territory in February and March 2018 and they had grown in lower single digits in the two months preceding February 2018. JLR sold a total of 45,180 vehicles in April 2018 vs. 40,385 vehicles in April 2017, a growth of 12% yoy. Sales were driven by new launches such as Range Rover Velar, Land Rover Discovery and Jaguar E-Pace. Volume growth was also helped by a weak base of April 2017, when sales had declined 2% yoy.

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