Tata Motors reported a 50 per cent jump in PV sales to 35,299 units in December.
Highlight
- Tata Motors on January 1 reported a 50 percent jump in total passenger vehicle sales in December 2021 to 35299 units
- The company had sold a total of 23,545 units in the same month a year ago.
- Electric vehicle sales also touched 10,000 units in the first nine months
Domestic auto major Tata Motors on Saturday reported a 50 per cent increase in total passenger vehicle sales in December 2021 to 35,299 units.
Tata Motors said in a regulatory filing that the company had sold a total of 23,545 units in the same month a year ago.
In the third quarter ended December 2021, the company said its total passenger vehicle sales stood at 99,002 units as against 68,806 units sales, up 44 per cent in the same period last year.
Shailesh Chandra, President (Passenger Vehicles Business Unit) Tata Motors said, “Tata Motors PV business continued its growth journey and set several new milestones during the quarter, while the semi-conductor crisis saw production slowdown. “
Recorded a decade high quarterly and monthly sales. In addition, the company also posted calendar year sales of 3,31,178 units in 2021, the highest ever since the inception of the PV business, he said.
“Records were also set on the EV front as EV sales witnessed a new peak of 5,592 units in Q3 FY22 (growth of 345 per cent versus Q3 FY21),” Chandra said.
Electric vehicle (EV) sales also touched 10,000 units in the first nine months of the current fiscal and crossed the 2,000 monthly sales mark of 2,255 units for the first time in December 2021, he said.
“Going forward, semiconductor supply will continue to be a major source of uncertainty. Additionally, the impact of the new strain of COVID-19 needs to be closely monitored. We will continue to work on a business agility plan and measures to mitigate these risks.” Will take proactive action for the same,” Chandra said.
On the commercial vehicles front, the company said it sold 34,151 units in December 2021, up four per cent against 32,869 units in the year-ago month.
For the third quarter ended December 2021, total CV sales stood at 1,00,070 units as against 89,323 units in the same period last fiscal, a growth of 12 per cent.
“The SCV (Small Commercial Vehicle) and ILCV (Intermediate and Light Commercial Vehicle) segments continue to benefit from the growth in e-commerce and the growing need for last-mile delivery,” said Girish Wagh, Executive Director, Tata Motors.
He said that expenditure on construction and infrastructure by the Central and State Governments and increasing activities in sectors like mining, petroleum-oil-lubricants and allied industries have facilitated the demand for M&HCVs (Medium and Heavy Commercial Vehicles).
“Going forward, we expect the situation to remain fluid as semiconductor shortages continue, instances of COVID-19 begin to rise and underlying demand remains under pressure,” he said.
Wagh said the company is closely monitoring the evolving situation and is intensifying its agile, multi-pronged approach to fulfill customer orders.
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