Tata Motors up as Jaguar Land Rover sales accelerate in Jan

Moneycontrol Bureau

Tata Motors shares surged over 3 percent in morning trade on Wednesday morning powered by strong growth at its British Jaguar Land Rover unit.

The maker of luxury passenger vehicles and 4x4 SUVs saw sales accelerate 32 percent year-on-year to 34,877 units in Jan.

Land Rover sales rose 31 percent to 29,118 units, while Jaguar sales were up 40 percent to 5,759 units, reflecting the launch of the new Range Rover and 2013 model year Jaguar XF and XJ models.

"Jan sales were up across every major market with sales up 74 percent in China, 46 percent in Asia Pacific, 33 percent in the UK, 24 percent in North America and 10 percent in Europe," JLR said.

At 9:45 hrs, Tata Motors shares were at Rs 307.85 on NSE, up 3.1 percent.