Jaguar Land Rover Plant Closing Sends Tata Motors Share Tumbling [Investor's Business Daily]
Tata Motors Ltd Tata Motors Limited (TTM)
US:NYSE Investor Relations:
tatamotors.com/investor/volumes
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Source: Investors Business Daily
Related news Jaguar Land Rover's owner Tata Motors ( TTM ) fell to the lowest level in more than six years in Mumbai trading after the luxury carmaker said it was shuttering production because of weak demand in China. Production at Solihull plant in the U.K. will be stopped for two weeks in October, the company said after sales in China declined 46 percent last month. Demand in the world's biggest auto market dropped because of uncertainty resulting from import duty changes and continued trade tensions, the automaker said in an emailed statement Monday. Performance of the marque brands is critical for Tata, which gets more than three-fourths of its revenue from the U.K. units it bought from Ford Motor ( F ) about a decade back. Chinese vehicle sales have been tumbling for carmakers including General Motors ( GM ) as slowing economic growth, a weakening currency and losses in the stock market add to the woes from a tit-for-tat trade dispute with the U.S. Shares of Tata Motors slumped 1
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