TaMo arm JLR's UK sales up 14% on year

Sales of Tata Motors Ltd's wholly-owned subsidiary Jaguar Land Rover in the UK rose 13.8% year-on-year to 3,101 units in August, according to an update from the UK-based Society of Motor Manufacturers and Traders.

During the month, sales of Jaguar were almost flat on year at 1,059 units, while sales of Land Rover were up 21.8% at 2,042 units.

In the UK, new car registrations during the month were down 5.8% on year at 87,226 units, but the automotive industry body said sales for the month are traditionally low due to certain regulatory changes. While demand for private cars was down 1.7% on year, fleet and business purchases dropped 5.5% and 57.9% on year, respectively.

However, sales of zero emission-capable cars rose 110% as new models hit the market. But these still accounted for less than one in 10 registration, the industry body said. At 1455 IST, shares of Tata Motors were trading 1.7% lower at 149.35 rupees on the National Stock Exchange.

Meanwhile, Tata Sons Pvt Ltd today bought 5.3 mln shares, representing 1% stake in Tata Motors DVR ' A' Ord at 56.02 rupees a share, through a bulk deal on the NSE. As of June-end, Tata Sons held 5.26% stake in Tata Motors DVR.

In another development , Moody's Investors Service today downgraded senior unsecured notes worth 98 mln pound sterling issued by TML Holdings Pte Ltd to Ba1 from Baa3. TML Holdings Pte Ltd is a whollyowned subsidiary of Tata Motors Ltd, which the rating agency rates at B1 negative.