Tata Motors jumps from red to green

Tata Motors is up in the green today morning, figuring among the top five gainers on the BSE.  The stock first opened with a loss of over 2% but soon news of its Chinese sales rising in August pushed up the stock price to Rs.131.50, going up almost 8%.

The company reported that its Chinese sales for August showed a rose of 17% (YoY) as its local turnaround plan gathered momentum.

Demand for the all-new Range Rover Evoque continued to strengthen (up 50.9% year-on-year) with sales just beginning in China, and sales of the Range Rover Sport increased by 6.4%. The Jaguar XJ saw an increase of 31 .1% and sales of the all-electric Jaguar I-PACE also increased.

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.

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

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).

The comprehensively re-engineered Land Rover Discovery Sport will be launched in China later this year further solidifying its position as a best-selling model.