Tata Motors Reports Quarter's Luxury Sales
Indian automaker Tata Motors announced today (link opens in PDF) that total retail sales for subsidiary Jaguar Land Rover were 88,658 units, and total wholesales were 94,828 units, in the quarter ended Dec. 31.
These numbers represent quarter-over-quarter increases and put the company's nine-month sales at a 25% year-over-year gain, according to an SEC filing submitted today. In the nine months ended Dec. 31, Land Rover sales increased 31% year-over-year while Jaguar sales fell 1% year-over-year. On a regional basis, sales grew most in China (62.6%) and least in North America (6.1%).
The company also reported dipping margins. According to the company, "EBITDA margin is likely to be slightly lower than in the previous two quarters, primarily reflecting less favorable exchange rates, the ongoing effect of a higher mix of Evoque sales and other factors."
The company estimates total capital spending in fiscal 2013 at around 2 billion pounds, bumping up to 2.75 billion pounds in fiscal 2014.
The article Tata Motors Reports Quarter's Luxury Sales originally appeared on Fool.com.Fool contributor Justin Loiseau has no position in any stocks mentioned and bought neither a Jaguar nor a Land Rover in the past quarter. You can follow him on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo.The Motley Fool recommends and owns shares of Ford. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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