Tata Motors announced on Saturday that its total domestic sales surged by 44% in September to 80,633 units. In September 2021, the company delivered 55,988 units to dealers.
The Mumbai-based carmaker Tata Motors, recorded an 85% increase in total domestic passenger vehicle dispatches this month, reaching 47,654 units, compared to 25,730 units in September 2021.
Shailesh Chandra, Managing Director of Tata Motors Passenger Vehicles, stated that the business had its highest ever monthly sales of 47,654 last month, spearheaded by record Nexon and Punch sales.
Tata Motors revealed today its sales performance in home and foreign markets for the month of September 2022, as well as the second quarter of this fiscal year. Tata posted 2,43,387 units in Q2 FY23, up from 1,71,270 units in the same period previous year, representing a 42.1 percent increase in volume. Tata sold 80,633 units in the domestic market last month, up from 55,988 units in the same period in 2021, representing a 44 percent rise year on year. In Q2 FY23, the company recorded 2,36,090 units vs 1,62,159 units in the same quarter last year, representing a 46% YoY increase in volume.
Tata sold 80,633 units in the domestic market last month, up from 55,988 units in the same period in 2021, representing a 44 percent rise year on year. In Q2 FY23, the company recorded 2,36,090 units vs 1,62,159 units in the same quarter last year, representing a 46% YoY increase in volume.
The PV industry had robust demand during Q2FY23, powered by the Christmas season and new launches reported by Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd. Tata Motors set new highs in passenger car sales during the quarter, selling 142,325 units, a 70% increase over Q2FY22. In addition, the company had its highest-ever monthly sales of 47,654 in September’22, representing an 85% increase over September’21.
SUV sales generated a whopping 66% of quarterly PV sales, led by record-breaking Nexon and Punch sales. In the electric car segment, the company reported record-breaking sales of 11,522 units in Q2FY23, representing a 326% increase over Q2 FY22. With the recent debut of the Tiago EV, the firm has opened new doors and is ready to spearhead the country’s broad adoption of EVs. Going forward, the company anticipate robust retail sales during the holiday season due to improved vehicle supply.
Tata Motors Limited, part of the Tata Group, is an Indian multinational automotive manufacturing corporation located in Mumbai, India. The company manufactures passenger vehicles, trucks, vans, coaches, buses, luxury vehicles, sports vehicles, and construction equipment.
The organisation was established in 1945 with the intention of producing locomotives under the name Tata Engineering and Locomotive Company (TELCO). The company built its first commercial car in 1954 in collaboration with Daimler-Benz AG, which continued until 1969. Tata Motors originally entered the passenger car market with the Tata Mobile in 1988, followed by the Tata Sierra in 1991, making it the first Indian business to produce a competitive indigenous automobile.
Indica, the first fully indigenous passenger car made in India, was released by Tata in 1998. The Tata Nano, the cheapest car ever made, was released in 2008. In 2004, Tata Motors purchased the South Korean truck maker Daewoo Commercial Vehicles Company. Tata Motors has been Jaguar Land Rover’s parent business since the corporation founded it in 2008 to acquire Jaguar Cars and Land Rover from Ford.
Earlier, Tata Motors shares rose more than 4% to an intraday high of Rs 443.20 on September 20 (Tuesday), according to Motilal Oswal Financial Services (MOFSL), with a potential upside of 17%.
According to the domestic brokerage firm, Tata Motors will progressively recover as supply-side challenges for Jaguar Land Rover (JLR) ease and commodities headwinds for the India business stabilise.