JLR – May 2011 Volumes Tata Motors (TTMT) n Emkay

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JLR  – May 2011 Volumes

Tata Motors (TTMT)

n    Overall JLR volumes reported 17% YoY growth to 22,296 units

n    Jaguar volumes declined by 17.6% YoY to 4,221 units

n    Landrover supported volumes with 30% YoY increase to 18,075 units

n    YTD FY12 growth of ~13% YoY is inline with our expectations for the full year FY12.