Arab Today, arab today tata motors net incomevehicle sales drop
Last Updated : GMT 12:03:19
Arab Today, arab today
Arab Today, arab today

Tata Motors net income vehicle sales drop

Arab Today, arab today

Arab Today, arab today Tata Motors net income  vehicle sales drop

Mumbai - Arabstoday

Tata Motors first-quarter profit missed analysts\' estimates as the owner of Jaguar Land Rover reported sales of its passenger cars in India fell and Jaguar deliveries declined. Net income rose to Rs20 billion (Dh1.62 million) in the three months that ended on June 30 from Rs19.9 billion a year earlier, according to a statement from the Mumbai-based car manufacturer on Thursday. Profit lagged behind the Rs21.6 billion median of 32 analysts\' estimates compiled by Bloomberg. Sales increased 24 per cent to Rs333.9 billion. Jaguar unit sales declined 27 per cent in the period from a year-earlier, while Tata Motors posted an 8.5 per cent drop in Indian passenger vehicle sales in the quarter as rising interest rates damped demand in a country where about 80 per cent of purchases are funded by loans. Article continues below The Jaguar Land Rover unit, bought by Tata Motors in 2008, is planning to introduce new vehicles to compete for a bigger share of the high-end segment. \"The main issue in the earnings was the performance of Jaguar Land Rover,\" said Walter Rossini, who helps manage about $300 million (Dh1.1 billion) in Indian assets at Aletti Gestielle SGR SpA in Milan. \"Probably the market overestimated the strength of Jaguar Land Rover on the basis of the performance of other luxury brands.\" Trailing BMW Sales of Jaguar and Land Rover vehicles rose 5 per cent in the quarter, compared with 15 per cent for BMW AG and 4.4 per cent for Daimler AG\'s Mercedes-Benz. Tata Motors shares declined as much as 4.4 per cent to Rs812, and were trading at Rs814.85 in Mumbai. The benchmark Sensitive Index of the Bombay Stock Exchange was little changed. The company\'s compact Range Rover Evoque, which goes on sale next month, has received about 18,000 bookings, Tata Motors said in the statement. The company plans to introduce a 2.2 litre, diesel Jaguar XF by the end of this year. \"Everyone is looking at the Evoque and also at the product launches from Jaguar that will help increase sales,\" said Juergen Maier, who helps manage about $1.2 billion of emerging- market shares, including Indian stocks, at Raiffeisen Capital Management in Vienna. Jaguar, the 76-year-old British luxury-car brand, aims to challenge BMW with a hybrid supercar and an entry-level sedan to compete with the 3-Series. The new models are part of Tata\'s plans to invest £1.5 billion (Dh8.97 billion) annually in product development at Jaguar and sister brand Land Rover over the next five years. ‘Strong performances\' \"We continue to see strong performances in key markets such as China and Russia and very soon we will have some exceptional new product offerings,\" Ralf Speth, chief executive officer at Jaguar Land Rover, said. Tata Motors is turning to the British luxury brands, which it purchased from Ford Motor, for growth and to drive international ambitions. The Jaguar Land Rover unit, based in Gaydon, England, generated 57 per cent of Tata Motors\' revenue for the year ended March 31, up from 53 per cent a year earlier.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today tata motors net incomevehicle sales drop Arab Today, arab today tata motors net incomevehicle sales drop

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today tata motors net incomevehicle sales drop Arab Today, arab today tata motors net incomevehicle sales drop

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Ryanair's O'Leary: Could ground more planes

GMT 06:49 2017 Friday ,22 September

Ryanair's O'Leary: Could ground more planes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Huthis stage defiant rally 3 years

GMT 05:29 2017 Friday ,22 September

Huthis stage defiant rally 3 years
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Youssra prepares for launching her  program

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:03 2017 Thursday ,21 September

Alarm over flesh-eating ulcer cases

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday