Tata Motors gained 1.66% to Rs 345.20 after the company said its total sales in the domestic & international market for Q1 FY22 stood at 1,14,784 vehicles compared with 24,978 units sold during Q1 FY21.
The company's total domestic sales jumped 125% to 43,704 units in June 2021 from 19,387 units in June 2020.Total commercial vehicles (CV) sales jumped 150% to 22,100 units in June 2021 over June 2020. CV exports jumped 193% to 2,506 units during the period under review.
Total MHCVs sale in Q1FY22 including M&HCV truck, buses and international business stood at 15,751 units compared with 2,540 units in Q1FY21.
Girish Wagh, ED & president of commercial vehicles business unit said, "Tata Motors' commercial vehicle domestic sale in Q1 FY22 at 43,400 units was 56% lower than the previous quarter (Q4 FY21). The momentum of strong sequential demand recovery, evident in the H2‐FY21, was disrupted by the surge in COVID 2nd wave. With decentralized restrictions and focus on micro containment zones this year, the sale in Q1 FY22 was 4.7 times of Q1 last year which was under complete lockdown. With demand across all segments impacted, we realigned our production to the revised retail visibility. The trucker and tipper sentiments indices saw a sharp drop, being comparable only with the level seen during complete lockdown last year. However, with easing restrictions and gradual reopening during the last fortnight of June'21, we are witnessing increasing enquiries and retails. International business continued the recovery momentum in Q1 FY22 and grew by 460% over Q1 FY21 as well as 24% over Q1 FY20. We continue to cautiously monitor the situation and dynamically align our business agility plans to the evolving scenario."
Total passenger vehicle sales jumped 111% to 24,110 units in the month of June 2021 from 11,419 units in June 2020.
Shailesh Chandra, president of passenger vehicles business unit said, The PV industry's sequential growth momentum got adversely impacted in Q1FY22, owing to restrictions imposed across the country to break‐the‐ chain of Covid transmission even though the industry is likely to record strong growth numbers off a low base on a year-on-year basis. Tata Motors PV business posted a sale of 64,386 units in Q1FY22, registering a growth of 342% versus Q1FY21. For June 2021, sales stood at 24,110 units, posting a strong 3‐digit growth of 111% versus June'20.
He further said, In EV segment, despite witnessing difficult business conditions, the company posted the highest ever quarterly sales of 1,715 units. This was on the back of increasing demand for Nexon EV, which posted its highest ever monthly sales of 650 units in June 2021. The PV industry continues to witness uncertainty on account of global semi‐conductor shortage and rising commodity prices, while the demand side is on a progressive recovery path. We continue to see strong customer interest in our product offerings, resulting in a strong order book and we aim to fulfil those to the best of our abilities in this supply constrained environment.
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