Jaguar Land Rovers’ unimpressive sales record during the month of September has sent Tata Motors in India in a tizzy. As a direct impact of this, Tata Motors Group global wholesales plunged by a 4% compared to the corresponding period in 2011-12.
The British brand managed to sell just 26,461 vehicles last September. It had previously reported a 13 percent hike in its sales in the month of August, down from annual increases of about 40 percent in the preceding three months.
The cumulative global wholesales, including Jaguar Land Rover, came down to 103,656 nos., in September 2012. On the positive side, the cumulative wholesales for the fiscal have gone up by 8%, as opposed to the previous year.
Jinesh Gandhi, automotive analyst at Motilal Oswal Securities in Mumbai said, "These numbers are not good. This is below consensus expectations and so the stock is likely to be affected negatively."
Tata bought Jaguar Land Rover for USD2.3 billion in 2008. Jaguar makes up to 90 percent of Tata Motors’ profit.