China market conditions drag down Tata Motors global sales in December

Auto major Tata Motors on Friday reported 13.9 per cent decline in the group’s global wholesales, including that of Jaguar Land Rover (JLR), at 1,00,551 units in December 2018.

Published: 12th January 2019 05:51 AM  |   Last Updated: 12th January 2019 05:51 AM   |  A+A-

Tata Motors logo

A Tata Motors logo is pictured outside the company showroom in Mumbai, India February 5, 2018. (File Photo | Reuters)

By Express News Service

NEW DELHI: Auto major Tata Motors on Friday reported 13.9 per cent decline in the group’s global wholesales, including that of Jaguar Land Rover (JLR), at 1,00,551 units in December 2018. It had sold 1,16,677 units in the same month last year.

Global wholesales of all Tata passenger vehicles last month fell by 14 per cent year-on-year at 59,898 units. JLR sales were at 45,474 units. While Jaguar wholesales for the month stood at 14,088 vehicles, wholesales of Land Rover stood at 31,386 units.

JLR on Thursday reported a 4.6 per cent fall in global car sales to 5,92,708 units in 2018, hit by tough market conditions in China. Global sales fell particularly sharply in December, down 6.4 per cent YoY. “The economic slowdown in China and ongoing trade tensions are continuing to influence consumer confidence. The impact is being felt across several industries globally,” JLR chief commercial officer Felix Brautigam said.

Global wholesales of all Tata Motors commercial vehicles and Tata Daewoo range in December 2018 were at 40,653 units, lower by 14 per cent over December 2017.

Owing to declining sales and JLR’s announcement of trimming 4,500 jobs, shares of Tata Motors on BSE fell 2.83 per cent to `180.30 on Friday’s trading.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp