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Last Updated : Sep 11, 2019 10:07 AM IST | Source: Moneycontrol.com

Tata Motors gains 4% as China retail sales recovers in August

Demand for the all-new Range Rover Evoque continued to strengthen (up 50.9 percent y-o-y) with sales just beginning in China, and sales of the Range Rover Sport increased by 6.4 percent.

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Shares of Tata Motors rose 4.5 percent in the early trade on September 11 after company's retail sales in China recovered in the month of August.

Retail sales in China continued to recover (up 17.4% year-on-year) as the company's local turnaround plan gathered momentum, company said in press release.

Demand for the all-new Range Rover Evoque continued to strengthen (up 50.9 percent y-o-y) with sales just beginning in China, and sales of the Range Rover Sport increased by 6.4 percent.

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The Jaguar XJ saw an increase of 31.1 percent and sales of the all-electric Jaguar I-PACE also increased, it added.

However, the Jaguar Land Rover (UK) retail sales in August 2019 were 34,176 vehicles, down 6.7 percent compared to August 2018.

Also, UK sales were solid but down 21.6 percent compared to August 2018, which was boosted by WLTP certification timing factors. Other markets were also down including Europe (1.4 percent) and North America (9 percent, impacted by new engine introduction timing issues this month), and overseas (24.7 percent, primarily softer sales in Korea and MENA).

At 0924 hrs, Tata Motors was quoting at Rs 125.80, up Rs 3.90, or 3.20 percent on the BSE.

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First Published on Sep 11, 2019 10:07 am
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