Tata Motors total sales rise 22% YoY in Q3 FY21

The auto major's total sales in the domestic and international market stood at 1,58,215 vehicles in Q3 December 2020 (Q3 FY21), up by 22.29% from 129,381 units during Q3 December 2019 (Q3 FY20).

The auto makers total sales have improved by 43.34% as compared to 1,10,379 vehicles sold in Q2 September 2020 (Q2 FY21).

In the month of December, Tata Motors total domestic sales jumped 21% to 53,430 vehicles from 44,254 vehicles sold in December 2019. Sequentially, the company's domestic sales increased 11.64% as compared to 47,859 vehicles sold in November 2020.

While the company's commercial vehicle (CV) sales declined by 4% to 32,869 units, passenger vehicle (PV) sales soared by 84% to 23,545 units in December 2020 over December 2019.

Girish Wagh, president, commercial vehicles business unit, Tata Motors, said, Tata Motors' commercial vehicle domestic sales in Q3FY21 at 82,155 units was 48% higher than the previous quarter and recovered to be broadly in line with Q3FY20 (- 3.5%). M&HCVs and ILCVs led the recovery, growing by 10% and 7% respectively over Q3FY20, with higher demand in infrastructure including road construction, mining and e-commerce.

The offtake continued to be higher than retail to support sequential month on month growth in retail while ensuring healthy inventory levels in the pipeline. We continue to monitor and work on the supply chain to improve availability, especially of electronic components, which impacted the output at the end of Q3.

Shailesh Chandra, president, passenger vehicles business unit, Tata Motors, said, The PV industry continued to grow robustly in Q3FY21, owing to pent up demand, strong festive season and shift towards personal mobility. Tata Motors PV Business has been witnessing strong response for its 'New Forever' range, which is being supported by continuous ramp up of supplies.

In Q3FY21, PV business posted a growth of 89% as compared to Q3FY20- highest ever sales in last 33 quarters. For Dec'20, wholesale were higher by 84%, compared to Dec'19. Retail sales was 18% higher than wholesale for the month and pipeline inventory remains thin.

We are continuing to debottleneck the supply chain and ramp up our output to meet the increased demand while addressing the availability of electronic components. With the growing popularity of Nexon EV, the company also posted an impressive sale in EVs with highest ever quarter wholesale of 1,253 units in Q3FY21 and 418 units in Dec'20.

Tata Motors is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses. It reported a consolidated net loss of Rs 343.28 crore in Q2 FY21 as compared to a net profit of Rs 175.76 crore in Q2 FY20. Net sales during the quarter declined 18.4% year-on-year (Y-o-Y) to Rs 52,839.02 crore.

Powered by Capital Market - Live News