Tata Motors cracks 3% on JLR sales woes
JLR retail sales for December 2018 were 52,160, down 6.4 per cent year-on-year.
Shares of the automaker suffered losses after the company reported a slump in the group-owned JLR global sales numbers.
JLR retail sales for December 2018 were 52,160, down 6.4 per cent year-on-year. JLR's retail sales in 2018 totalled 592,708 vehicles, down 4.6 per cent compared to 2017.
JLR on Thursday announced around 4,500 job cuts worldwide after the British high-end carmaker was hit by dwindling sales in China and concerns about UK's competitiveness post-Brexit.
The US-China trade war, weak growth of the Chinese economy and Brexit woes have hit the automotive sales volumes across the industry.
Shares of the company traded 3.10 per cent down at Rs 179.80 around 1:55 pm.