Tata Motors Shares Slide After Jaguar Owner Misses Estimates

Tata Motors Ltd. fell as much as 8.2 percent after earnings at the owner of Jaguar Land Rover missed analysts’ estimates amid sluggish demand for its luxury cars in Europe. Jaguar Land Rover said it will spend about 4.5 billion pounds ($5.3 billion) in the current financial year on new models and technologies as it looks to spur sales that grew at a slower pace. Deliveries at Jaguar Land Rover rose 1.7 percent in the year through March, with demand for newer models such as the Jaguar E-Pace compact sport utility vehicle and Range Rover Velar failing to offset a sales drop in older models.