Tata Motors ' Jaguar and Land Rover unit will announce its figures for the month of May soon and analysts expected the company to record higher sales than compared to the earlier month due to seasonal factors.
Jaguar and Land Rover had recorded sales of around 25,000 during April and it is likely to increase to about 28,000 for May, according to Hitesh Goel, analyst at Kotak Institutional Equities. He also said that he was advising to sell the shares of the company for some time but his company has changed the advise to buy because of sharp fall in the price of the shares.
Jaguar and Land Rover unit has recorded strong growth during April-March 2012 period even as the company’s domestic Indian business faced difficult year in the country. The sales of Jaguar and Land Rover models increased significantly specially after the launch of Range Rover Evoque crossover. The Jaguar Land Rover unit of the company generated 57 percent of Tata Motors’ revenue for the year till March 2011 compared to 53 percent in the previous year.
“Yes, I think numbers would be better than April because of seasonality. But the first quarter is generally slightly weak because there are shut downs in Europe. But whatever we have seen in US and Europeans sales, the number should be slightly better than April,” said Goel.
He also said that the company is planning to launch several new products during the year that will drive its growth.