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Tata Motors (TTM) Wholesales Surge 20% in July; Shares Up
Tata Motors Limited’s shares gained 1.3% on Aug 8, after the automaker reported that its global wholesales, inclusive of Jaguar Land Rover, increased 20% year over year to 88,159 vehicles in Jul 2016. Cumulative global wholesales for Apr through Jul 2016 were 349,413 vehicles, up 14% from the year-ago figure.
Global wholesales of all Tata Motors’ commercial vehicles and the Tata Daewoo range were 30,363 vehicles in Jul 2016, nearly same as the figure recorded in Jul 2015. Moreover, cumulative commercial vehicle sales from April through July were up 7% year over year, at 125,112 vehicles.
Global wholesales of all passenger vehicles in the month of July surged 34% to 57,796 units, while cumulative sales from April through July improved 18% to 224,301units.
Jaguar Land Rover recorded global sales of 43,932 vehicles in Jul 2016. Cumulative wholesales for the April–July period were 178,258 vehicles. Jaguar wholesales were 14,369 vehicles in July and 48,941 units for April–July. Land Rover sales totaled 29,563 vehicles for last month and 129,317 units for April through July.
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Tata Motors, carrying a Zacks Rank #3 (Hold), is one of the leading automotive manufacturers in India. The company also has operations in the U.K., South Korea, Thailand, South Africa and Indonesia. It competes with automakers like Toyota Motor Corporation (TM - Free Report) , Honda Motor Co., Ltd. (HMC - Free Report) and Volkswagen AG in the Indian as well as global auto market.
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