Tata Motors Limited’s shares gained 3.64% on Apr 11, after the automaker reported that its global wholesales, inclusive of the Jaguar Land Rover, increased 11% year over year to 118,750 vehicles in Mar 2016. Cumulative global wholesales for Apr 2015 through Mar 2016 were 1,066,254 vehicles, up 8% from the year-ago figure.
Global wholesales of all Tata Motors’ commercial vehicles and the Tata Daewoo range were 45,235 vehicles in Mar 2016, 18% higher than the figure recorded in Mar 2015. Moreover, cumulative commercial vehicle sales from April through March rose 4% year over year, to 391,629 vehicles.
Global wholesales of all passenger vehicles in the month of March surged 8% to 73,515 units, while cumulative sales from April through March improved 11% to 674,625 units.
Jaguar Land Rover recorded global sales of 64,579 vehicles in Mar 2016. Cumulative wholesales for the April–March period were 544,085 vehicles. Jaguar wholesales were 13,370 vehicles in March and 102,106 units for April–March. Land Rover sales for last month totaled 51,209 vehicles and 441,979 units for April through March.
Tata Motors is one of the leading automotive manufacturers in India. The company has operations in the U.K., South Korea, Thailand, South Africa and Indonesia.
Currently, Tata Motors carries a Zacks Rank #3 (Hold). Some better-ranked automobile stocks include Federal-Mogul Holdings Corporation , Cooper Tire & Rubber Co. and Superior Industries International, Inc. . All the three stocks sport a Zacks Rank #1 (Strong Buy).
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