Tata Motors Hits 52-Week Low as JLR May Sales Decline

 Sharemasterindia.com: Tata Motors shares fell as much as 2 per cent to hit 52-week low of Rs 421.45 after the company reported that sales of its subsidiary Jaguar-Land Rover (JLR) fell in the month of May.

Tata Motors said that retail sales of its luxury car brand Jaguar-Land Rover declined 2.1 per cent to 38,000 units in the month of May. Sales of Jaguar fell 13 per cent year on year while Land Rover sales were flat. Meanwhile, Land Rover's Evoque sales in China showed a slow ramp up.


However, Tata Motors shared its order backlog data for the first time which was positive. JLR has order backlog of 50,000 units for Discovery Sport which is equivalent to its nine months sales and order backlog for luxury sedan XE is at 25,000 units which is one-third of overall Jaguar sales.

Reacting to this development, shares of Tata Motors fell to 52-week low. As of 10:20 a.m. the stock traded 1.59 per cent lower at Rs 423.50.