Shares of luxury car maker Jaguar Land Rover – Tata Motors rose 9.1 per cent to a 52-week high of Rs. Rose to 417.3. Jaguar Land Rover products are strong with order books in record sizes. However, the company warned that Jaguar Land Rover’s retail sales for the three months ending September 2021 will be curtailed by the impact of a global semiconductor shortage in production.
Retail sales of 92,710 vehicles in the second quarter ended September 30, 2021 were 18.4 per cent lower than the 113,569 vehicles sold in Q2 last year in China (-6.3 per cent), Europe (-17.0 per cent), and the UK (-47.6 per cent), but our overseas Tata Motors said in a statement that it was the highest in the region (+10.0 per cent).
Retail sales of all models, with the exception of the new Land Rover Defender, were lower year-on-year, with 16,725 vehicles retailing, up 70.4 per cent year-on-year.
“The global semiconductor supply problem is a significant challenge to the industry, which will take time to work. However, we are still able to grow Land Rover Defender’s sales in Q2. We are also pleased. Leonard Hornick, CEO of Jaguar Land Rover
In the last three sessions, Tata Motors shares have risen 25 per cent, up 2 per cent over the Sensex.
Shares of Tata Motors rose 9 per cent to Rs. Traded at 417.50.