Tata Motors Limited (TTM - Free Report) reported that its global wholesales, inclusive of Jaguar Land Rover, increased 9% year over year to 101,057 vehicles in Oct 2016. Cumulative global wholesales for Apr−Oct 2016 were 639,386 vehicles, up 12% from the year-ago figure.
Global wholesales of all Tata Motors’ commercial vehicles and the Tata Daewoo range were 36,921 vehicles in Oct 2016, up 18% from the figure recorded in Oct 2015. Moreover, cumulative commercial vehicle sales from April through October were up 7% year over year, at 226,812 vehicles.
Global wholesales of all passenger vehicles in the month of October went up 4% to 64,145 units, while cumulative sales from April through October improved 15% to 412,574 units.
Jaguar Land Rover recorded global sales of 47,390 vehicles in Oct 2016. Cumulative wholesales for April through October were 320,951 vehicles. Jaguar wholesales were 15,308 vehicles in October and 93,498 units for April–October. Land Rover sales totaled 32,082 vehicles for last month and 227,453 units for the April−October period.
Tata Motors shares fell 0.3% on Nov 10.
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.
Some better-ranked auto stocks include America's Car-Mart Inc. (CRMT - Free Report) , Gentex Corp. (GNTX - Free Report) and Rush Enterprises, Inc. (RUSHA - Free Report) .
America's Car-Mart has witnessed positive estimate revisions over the last 30 days. The company sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Rush Enterprises, carrying a Zacks Rank #2 (Buy), has a long-term expected growth rate of 15%, compared to the industry average of 13.20%.
Gentex, also a Zacks Rank #2 stock, has a long-term expected growth rate of 11.20%.
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