Tata Motors, India's largest automobile company, witnessed a sharp rise in share price on Thursday after Jaguar Land Rover (JLR), the company's UK arm reported its September retail sales at 47,634 vehicles, up 3% from the same period last year..
The company sold 349,412 vehicles in the first nine months of 2015, in line with prior year.
Jaguar Land Rover's regional performance year-to-date shows 21% growth in Europe, 18% in North America and 15% in the UK, with Overseas down 12%. Sales in the China Region are down 29% year-to-date.
Andy Goss, Jaguar Land Rover Group Sales Operations Director said, 'The all-new Jaguar XE and the all-new Discovery Sport continued to impress this month, retailing more than 13,000 vehicles in total.'
'Sales in the UK, Europe and North America have shown impressive growth year-to-date and despite a challenging macro-economic environment, particularly in China, customer demand for both our Jaguar and Land Rover vehicles remains encouraging,' he added.
Land Rover retailed 37,240 unitrs in September, down 1% year on year compared to a very strong September in 2014. The new variant discovery sport is outselling by 30% the Freelander it replaced and Range Rover and Range Rover Sport were up 6% and 11% respectively.
Shares of Tata Motors are trading at Rs 373.50, up Rs 21.2, or 6.02% at the Bombay Stock Exchange (BSE) on Thursday at 12:30 p.m.
Total volume of shares traded on the bourses today was lower by 34.86% to 8,883,195 compared with 22-day average volume of 13,637,088.