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Home-grown automaker Tata Motors on Thursday said it expects more retail growth in the second half of the current fiscal and will launch the Tiago EV on September 28, 2022.
In an exclusive interview with CNBC-TV18's Parikshit Luthra, Shailesh Chandra, managing director, said, "The second half is a period of festivities. The demand has remained strong and new models which have got launched got a very strong response. Therefore, I expect that the momentum should continue."
He said right now, there are no negative indicators but the company is cautious as it doesn't know how the festive season is going to play out after the third quarter. But I believe that quarter four should be strong in any case.
On festive demand, Chandra said given that the industry bookings and the channel stock, October supplies are going to be robust. So all in combination, I think the industry is going to see a good festive season.
Talking on Tiago EV, MD said the company will announce the price, the booking dates, and delivery dates on September 28.
Further, he said rural areas should be even stronger in the second half and it has been pretty in urban-rural, "As far as the company is concerned, about 38 percent to 40 percent of our sales come from a rural area that has been also doing good."
Chandra said the company has expanded aggressively in rural areas in the last one or two years, and that is the reason Tata Motors is seeing this demand at an industry level.