Tata Motors share price was up over 2 percent intraday on January 4 after the auto major declared its sales for the month of December.
Tata Motors on January 1 reported a 21 percent increase in total vehicle sales in the domestic market to 53,430 units in December. The company had sold 44,254 units in the domestic market in the same month last year, Tata Motors said in a regulatory filing.
Domestic passenger vehicle (PV) sales stood at 23,545 units last month as against 12,785 units in December 2019, up 84 percent, it added.
"The PV industry continued to grow robustly in Q3 FY21, owing to pent up demand, strong festive season and shift towards personal mobility," Tata Motors President, Passenger Vehicles Business Unit, Shailesh Chandra said.
The company''s PV business has been witnessing the strong response to its ''New Forever'' range, which is being supported by a continuous ramp-up of supplies, he added.
Tata Motors, however, said its total commercial vehicle sales stood at 32,869 units in December 2020 as against 34,082 units in the year-ago month, down 4 percent. Sales of CVs in the domestic market were at 29,885 units as compared to 31,469 in December 2019, down 5 percent, it added.
Tata Motors President, Commercial Vehicles Business Unit, Girish Wagh said there was a higher demand for CVs in infrastructure, including road construction, mining and e-commerce in the third quarter.
"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," he added.
The stock was trading at Rs 191.10, up Rs 4.65, or 2.49 percent at 10:10 hours. It has touched an intraday high of Rs 193.00 and an intraday low of Rs 190.55.