Tata Motors Announces 50% Increase in Passenger Vehicle Sales; Sold 35,299 units in December | Breaking News Updates

Tata Motors Announces 50% Increase in Passenger Vehicle Sales; Sold 35,299 units in December

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Tata Motors on Saturday reported a 50% increase in total passenger vehicle sales to 35,299 units in December 2021. The Pune-based company had sold a total of 23,545 units in the same month a year ago, reported Tata Motors said in a regulatory filing.

In the third quarter ended December 2021, the company said its total passenger vehicle sales stood at 99,002 units, up from 68,806 units sold in the same period a year earlier, up 44%. “Tata Motors’ PV business growth continued and entered several new milestones during the quarter despite lower production due to the current semiconductor crisis,” said Shailesh Chandra, President of Tata Motors (commercial unit of passenger vehicles).

Quarterly and monthly sales of over a decade have been recorded. In addition, the company also recorded a sale of 3,31,178 units in the calendar year in 2021, the highest on record since the establishment of the photovoltaic business, he added. “Electric vehicle records were also set on the electric vehicle front, with sales of electric vehicles reaching a new peak of 5,592 units in the third quarter of fiscal 22 (345% growth over the third quarter of fiscal year). 21), ”Chandra said.

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Electric vehicle (EV) sales also hit 10,000 units in the first nine months of the current fiscal year and broke the 2,000 monthly sales milestone for the first time in December 2021 to 2,255 units, a-t -he adds. “In the future, semiconductor supplies will remain the main source of uncertainty. In addition, 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 take proactive steps to mitigate these risks. “said Chandra.

On the commercial vehicle front, the company said it sold 34,151 units in December 2021 from 32,869 units last month, up 4%. For the third quarter ended December 2021, total CV sales amounted to 1,00,070 units compared to 89,323 units in the same period of the previous fiscal year, an increase of 12%.

“The SCV (Small Utility Vehicles) and ILCV (Mid and Light Utility Vehicles) segments continued to benefit from the growth of e-commerce and the growing need for last mile delivery,” said Girish Wagh, Executive Director of Tata Motors . Central and state government construction and infrastructure spending as well as increased activity in sectors such as mining, oils-oils-lubricants and allied industries facilitated the demand for M & HCV ( medium and heavy commercial vehicles), he added.

“Going forward, we expect the situation to remain fluid as the semiconductor shortage continues, cases of COVID-19 begin to increase, and underlying demand continues to remain under pressure.” , did he declare. Wagh added that the company is monitoring developments closely and refining its agile and multi-pronged approach to fulfilling customer orders.

(Edited by : Vijay Anand)

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Tata Motors Announces 50% Increase in Passenger Vehicle Sales; Sold 35,299 units in December

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