Fwd: Angel Broking - Tata Motors - Jaguar Land Rover Monthly sales update - May 2013

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Rajesh Desai

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Jun 21, 2013, 12:24:29 AM6/21/13

Forwarding you the Monthly sales update on Tata Motors - Jaguar Land Rover with an Buy recommendation and a Target price of `347 (12 months)

Jaguar and Land Rover (JLR) registered an in-line wholesale volume growth of 3.7% yoy (8.1% mom) to 31,210 units. The performance was driven by a strong growth in the sales of Jaguar, with continued momentum in the recently launched F-type model, and variants of XF among others.

Jaguar posted an impressive volume growth of 62.6% yoy (32.4% mom) on the back of growth in the XF model, led by the introduction of the Sportbrake, AWD and smaller engine variants.

Land Rover sales declined 6.2% yoy during the month as the volumes were impacted ahead of the impending launch of the New Range Rover Sport. On a mom basis, volumes grew by 2.6%, led by growth in Freelander and Evoque models and supported by continuous ramp-up in the New Range Rover.

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Tata Motors - Jaguar Land Rover Monthly sales update - May 2013

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