Jaguar Land Rover (JLR) opened financial year 2016-17 on a lukewarm note, with volume sales falling 2.3 percent for April. The company sold 40,385 cars during the month, the decline being steep for Land Rover, of 15.8 percent. The numbers triggered a fall in Tata Motors share prices on Friday, leading to the BSE Sensex trading about 200 points lower at around 12.45 pm.
Land Rover sales dropped to 28,075 while Jaguar sales rose 54 percent to 12,310 units, year-on-year, Tata Motors said in a regulatory filing on Friday.
"A small decrease in sales was seen due to two factors. In the UK, customers purchased vehicles before the increase in vehicle tax on 1st April. In addition, the run-out of the previous Discovery model accounted for a year-on-year decrease in Land Rover sales," Andy Goss, Jaguar Land Rover Group Sales Operations Director said.
"Sales will increase from this month as the all-new Discovery model continues to go on sale across the world, particularly in China and North America, two of Jaguar Land Rover's biggest markets," he added.
From a geographical viewpoint, sales grew 32.5 percent in North America and 10.1 percent in China but fell 34.6 percent in the UK.
Tata Motors shares were down 3.37 percent to Rs 422 while the Sensex was trading at 29,904.
Other Sensex losers were ONGC, Tata Steel and Mahindra & Mahindra.
