Jaguar Land Rover sees higher incentive costs amid competition

Tata Motors falls 2% post subdued JLR's UK sales in July

Consolidated revenues for the quarter are lower by Rs7,761 crore due to the impact of conversion from United Kingdom pound to Indian rupee, the company said.

The company was also impacted by lower volumes at JLR, de-growth in medium and heavy commercial vehicles (M7HCV), flat demand in the light commercial vehicles (LCV) space and moderate growth in the passenger auto segment.

Indian automobile manufacturer Tata Motors Group has witnessed 12 per cent growth in its global wholesales for the month of July 2017, including Jaguar Land Rover, and stood at 98,534 units.

Net sales for Tata Motors dropped 10% to ₹58,651 crores in the quarter which ended in June 2017.

Consolidated profit before tax for the quarter was Rs.3,737 crore, against Rs2,551 crore for the corresponding quarter of fiscal 2016-17.

In July, JLR sold 46,074 vehicles, an increase of 3.6 per cent compared to the same month past year. The company registered a profit of ₹32oo crores, up 41% from ₹2260 crores in the same period a year ago. "Our focus on top-line, market share growth, major cost reduction initiatives and efficiency improvements have been significantly enhanced and accelerated in the last few months", Tata Motors Managing Director and Chief Executive Officer Guenter Butschek said.

This was offset by seasonality of first-quarter sales following a strong fourth quarter, plus the "continuation of launch and growth costs", it said.

Demand grew by 30% in China, helped by the success of the market-specific Jaguar XFL, which boosted XF sales by 22%.

Revenue for the quarter was £5.6 billion, up £244 million.

The profit includes a one-time credit of £437 million related to the company's pension plans.

Jaguar Land Rover (JLR) on Wednesday announced opening of bookings for the all-new Land Rover Discovery at any of its 25 authorised retailers as well as online.

"The foundation of our journey of sustainable, profitable growth continues our investment in products, plants and people as we become a technology-driven company", said Ralf Speth, CEO, JLR.



Latest news

Bouchard falls to Vekic in 1st Round Action at Rogers Cup
Ekaterina Makarova, Catherine Bellis, Magdalena Rybarikova and Barbora Strycova are also through to the second round. It has been six consecutive tournaments where the player of 23 years was eliminated in his first game.

Energy Transfer Partners, LP (ETP) has a Market value of 22.57 Billion
The share price of ENERGY TRANSFER PARTNERS (NYSE:ETP) was down -1.18% during the last trading session, with a day high of 20.56. The analysts, on average, are forecasting a $21.39 price target, but the stock is already up 21.28% from its recent lows.

Former Ole Miss coach Nutt's lawsuit vs. school dismissed
In exchange for testimony against Ole Miss and its coaches, Lewis was granted immunity by the NCAA enforcement staff. This lawsuit could still be refiled at the state level, but it's unclear if that will happen.

Ek Prem Katha pushes to stop open defecation
After all the heavy-duty talk, we asked Akshay about appearing ageless enough to complement young actresses . It is a completely wrong notion that people in the villages defecate more in the open as compared to cities.

Ex-FBI agent and daughter guilty of killing her husband
A former Federal Bureau of Investigation agent and his daughter were found guilty of killing the daughter's husband on Wednesday. After this, she turned to her mother in the courthouse and said: "I'm really sorry mom, I wish they'd just kill me".

Roma still want Leicester City winger,Mahrez but looking at other options
Such words are music to the ears of anyone associated with Leicester City , but how happy Mahrez actually is remains an interesting question.

Frito Lay opening pop-up Cheetos-themed restaurant
Broadway in Manhattan, will be open to the public by reservation only August 15-17 (visit the website to join the waitlist). To cap off the meal, Cheetos Sweetos-cinnamon-flavored sugar puffs-are used to make cheesecake , cookies and apple crepes.

United States expels 2 Cuban diplomats after incidents in Cuba
Last year, President Obama traveled to Cuba, looking to warm the long-frozen relations with the Communist-run island. Washington and Havana only re-established ties in 2015, following 50 years of hostilities between the two countries.

Liverpool in 'good shape' ahead Watford, Hoffenheim clashes
It's not long now until our Premier League season kicks off again with Liverpool's trip to Vicarage Road. Liverpool's first big test of the season is nearly exactly the same as their first big test last season.

Iran Condemns Deadly Terror Attack on Shiite Village in Afghanistan
In the first half of the year 1,662 civilians were killed and 3,581 injured, according to United Nations figures. The Taliban has rejected that allegation, saying a group under one of its commanders carried out the attack.

Mylan slashes earnings forecast on United States generics price cuts
Landmon, who doesn't work with Mylan, said this is especially true with Advair because it is administered through an inhaler. Mylan chief executive Heather Bresch said the entire healthcare sector is at an inflection point.

Sekulow Explains Email Trail in Lynch-Clinton Meeting Documents
Comey said that was one reason why he took it upon himself to buck Justice Department tradition and reveal his findings about Mrs. Comey revealed the conversation during his testimony before Congress on June 8.

U.S. trade office will investigate Apple iPhone 7 imports
In its investigation, the ITC will go through certain mobile electronic devices and radio frequency and processing components. The ITC also maintained that within the next 45 days, it will finalize the date it plans to end the investigation.

Trump Endorses Strange in Alabama Senate Race
On Twitter, another ranking Republican who worked for the Trump campaign as a co-chairman criticized the Trump endorsement. Trump on Twitter said odd "has done a great job representing the people of the Great State of Alabama".

Beaufort Securities Downgrades BT Group PLC (BT) to Long Term Buy
Zacks Investment Research cut shares of BT Group PLC from a hold rating to a sell rating in a report on Monday, April 10th. Parkside Financial Bank & Tru has 0.01% invested in Netflix, Inc. 1,300 were reported by Fukoku Mutual Life Insurance.

Other news