Tata Motors is today down almost 4% at Rs.182.05; though it has recovered a bit, it remains depressed, down some 3%.
The stock price is reacting to its poor sales number of JLR for Feb’19. Jaguar Land Rover (JLR) retail sales in Feb fell 4% (YoY) to 38,288 vehicles. The company said that though there were strong sales of I-PACE, E-PACE, refreshed Range Rover and Range Rover Sport, this was offset by overall weak customer demand in China as well as the run out of the old Range Rover Evoque.
China posted a 48% (YoY) decline in sales mainly on the back of very weak demand. On the other hand, North America showed a 25% rise, UK rose 11% and Europe was up 1%.