Tata Motors posted a total domestic sale of 1,07,786 units in the April-June quarter of fiscal 2022, compared to the corresponding period of the previous fiscal, marking a growth of 353% you.
The auto company's sales in the domestic and international market in the first quarter of the current fiscal stood at 1,14,784 vehicles as compared to 24,978 units last year.
In June 2021, Tata Motors domestic sales stood at 43,704 units, compared to 19,387 units sold in the same month last year.
Tata Motors sales of total commercial vehicles (CV) in the June quarter stood at 50,145 units, compared to 10,407 units in the same period last year, recording a growth of 382% you.
Whereas, in June 2021, sales of commercial vehicles stood at 22,100 units, compared to 8,824 units in the same month last year, marking a growth of 150% you.
In terms of passenger vehicles (PV), Tata Motors registered 64,386 units sold in the April-June quarter, compared to 14,571 units in the corresponding period last year, marking a rise of 342% you.
In June 2021, the company sold 24,110 units in passenger vehicles, compared to 11,419 units in June 2022, recording a growth of 111% on a yearly basis.
Total MHCVs sales in Q1 FY22 including M&HCV Truck, Buses and International Business stood at 15,751 units compared to 2,540 units in Q1 FY21.
Mr. Girish Wagh, ED & President, Commercial Vehicles Business Unit, Tata Motors Ltd said, “Tata Motors’ Commercial Vehicle domestic sale in Q1 FY22 at 43,400 units was ~56% lower than the previous quarter (Q4 FY21) as 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.”
Mr. Shailesh Chandra, President, Passenger Vehicles Business Unit, Tata Motors Ltd 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’21, sales stood at 24,110 units, posting strong 3‐digit growth of 111% versus June’20. In the 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 ’21. 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.”
Meanwhile, shares of Tata Motors ended at Rs344.20 up by Rs4.65 or 1.37% from its previous closing of Rs339.55 on the BSE. The scrip opened at Rs341.65 and touched a high and low of Rs347.50 and Rs341.30 respectively.