Tata Motors Q3 FY22 sales up by 26% to nearly two lakh vehicles
Tata Motors Limited said that it has sold a total of 1,99,633 vehicles in Q3 FY22, an increase of 26% compared to 1,58,218 units during the same quarter of FY21.
The Indian automobile manufacturer recorded sales of 66,307 vehicles in December 2021 in the domestic market, an increase of 24% compared to 53,430 vehicles in the same month in the previous calendar year.
During Q3 FY22, Tata Motors sold 1,89,531 vehicles, a growth of 26% compared to 1,50,961 vehicles in Q3 FY21.
Tata Motors’ commercial vehicle sales in India for Q3 FY22 stood at 90,529, which is nearly 15% more than Q2 FY22 and 10% higher than Q3 FY21.
Girish Wagh — Executive Director of Tata Motors said: “The retail was ahead of whole sale by 15% in December’21, enabling inventory alignment. The SCV and ILCV segments continued to benefit from the growth in e-commerce and the increasing need for last-mile delivery.
“Construction and infrastructure spending by central and state Governments plus rising activity in sectors such as mining, petroleum-oil-lubricants and allied industries facilitated the demand for M&HCVs.
“The International business too continued its recovery momentum and grew by ~10% over the previous quarter (Q2 FY22) and 33% over the same quarter last year (Q3 FY21). Going forward, we expect the situation to remain fluid as the semiconductor shortage continues, instances of Covid begin to rise and underlying demand continues to remain under pressure.
“We are keeping a close watch on the evolving situation and sharpening our agile, multi-pronged approach to fulfill customer orders.”
The company’s passenger vehicle sales for Q3 FY22 were 99,002, an increase of 44% compared to Q3 FY21, and for December 2021, the figure was 35,299 vehicles a growth of 50% compared to December 2020.
Shailesh Chandra — President of Tata Motors Passenger Vehicles Business Unit said: “The overwhelming market response to Tata Punch launched in Oct’21 is further boosting demand for the company’s “New Forever” range of cars and SUVs.
“Records were also created on the EV front as EV sales witnessed a new peak of 5,592 units in Q3 FY22 (growth of 345% vs Q3 FY21). Consequently, EV penetration touched 5.6% of PV Sales during the quarter versus 1.8% in the same period last financial year.
“EV sales also touched 10,000 units in 9MFY22 and crossed 2,000 monthly sales landmark for the first time in Dec’21 (2,255 units). The ever-increasing demand for Nexon EV and Tigor EV as well as progressive revival of the EV fleet segment were instrumental in driving this steep growth.
“Going forward, semi-conductor supplies will remain the key source of uncertainty. Additionally, the impact of the new strain of Covid needs to be closely tracked.”