* JLR sales down 4 pct in September year-on-year
* JLR accounts for 90 pct of profit, key growth driver
* Total Tata Motors sales down 4 pct in September
MUMBAI, Oct 15 Jaguar Land Rover sales fell in
September, the first monthly fall since July 2011 and a blow for
Indian parent Tata Motors - the luxury vehicles make
up 90 percent of group profit.
JLR's sales growth over the past year, helped by the new
Evoque model and success in emerging markets such as China, had
been offsetting sluggish growth in Tata's domestic business and
driven its stock price up 50 percent over the past 12 months.
The British brands sales fell 4 percent in September,
year-on-year, with 26,461 vehicles sold. It had previously
reported August sales up 13 percent, down from annual increases
of about 40 percent in the preceding three months.
"These numbers are not good," said Jinesh Gandhi, automotive
analyst at Motilal Oswal Securities in Mumbai. "This is below
consensus expectations and so the stock is likely to be affected
JLR, which Tata bought for $2.3 billion in 2008, has helped
offset slowing sales of Tata's own branded cars and trucks in
India where cooling economic growth and high interest rates have
It accounted for about 70 percent of Tata Motor's
consolidated revenue in the April-June quarter, and around 90
percent of profit.
Tata Motors' overall global vehicle sales were down 4
percent in September year-on year to 103,656 vehicles, also the
first monthly fall since July 2011.