July 16, 2012 / 11:44 AM / 5 years ago

Tata Motors hit by JLR disappointment

Reuters Market Eye - Tata Motors shares fell 2.8 percent after unit Jaguar Land Rover posted lower global sales than expected in June.

Models pose with a Jaguar XF and Range Rover during the launch of Jaguar and Land Rover in India, after a news conference in Mumbai June 28, 2009. REUTERS/Punit Paranjpe/Files

Sales of JLR vehicles stood at 28,215, below market expectations for at least 29,000 units sold, according to traders.

Disappointing operating at Jaguar Land Rover in January-March raised concerns Tata Motor’s key earnings driver was losing speed during a worrisome period for the global economy.

Higher costs and slower economic expansion have dented demand in India’s automobile sector, forcing an industry body to cut its outlook for the year last week.

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