Tata Motors PV business posted nearly a decade-high quarterly sales of 83,933 units!
Tata Motors PV business posted nearly a decade high quarterly sales of 83,933 units, registering a strong growth of 53% versus Q2FY21. This growth has come on the back of demand recovery in the industry post the Covid second wave and a strong response to its ‘New Forever’ range of cars and SUVs.
In Sep’21, Tata Motors PV Business sold 25,730 units, posting a growth of 21% vs Sep’20, despite a major industry-wide shortage of electronic components.
In the EV segment, the company for the second month in succession crossed the 1,000 unit milestone to register its highest ever monthly and quarterly sales of 1,078 units and 2,704 units respectively. EV sales recorded nearly a three-fold growth with the rising acceptance and popularity of the Nexon EV and Tigor EV.
Commercial Vehicle Sales -
Tata Motors’ Commercial Vehicle domestic sale in Q2 FY22 at 78,226 units was ~80% higher than the previous quarter and 50% higher the same quarter last year (Q2 FY21).
Post the 2nd COVID wave, markets are witnessing gradual demand recovery across most segments led by M&HCVs with improving fleet utilization levels, higher number of road construction projects awarded and improving cement consumption.
International business continued the recovery momentum and grew by ~28% over the previous quarter and 155% over the same quarter last year (Q1 FY21).
Semiconductor shortage continues to impact the auto industry globally. The impact of supply shortage due to restrictions in East Asia continued in September, leading to moderation of production and offtake volumes.
Total MHCVs sale in Q2 FY22 including MHCV Truck, Buses and International Business stood at 24,067 units compared to 10,525 units in Q2-FY21.
Overall Tata Motors Domestic Sales Performance -
Tata Motors Limited announced its sales in the domestic & international market, for Q2 FY22, which stood at 1,71,270 vehicles, compared to 1,10,345 units during Q2 FY21.