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.
(c) 2019, Express Network Pvt Ltd. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers