Tata Motors sales back in top gear. Tata Motors stocks are up by 8% after it delivered its Q2 retail sales numbers. Retail sales stand at Rs 1.13 lakh units vs Rs 74.067 thousand units and see a 50% rise. Retail sales are down by 11.9% of pre-COVID levels YoY.
China has seen an improvement in retail sales which is up by 14.6% QoQ and 3.7% YoY. China is an important market for Tata Motors. Individual sales up by 28.5% in China. CLSA's view on Tata Motors states that cost focus had already started to reflect in Q1. Tata Motors has seen a significant improvement on a QoQ basis.