Tata Motors reported growth in For December 2020, and Q3 FY21
For Tata Motors, December 2020 wholesales were reported at 84 percent growth. Up at 23,545 units from 12,785 units a year earlier. Sales of best selling Tata cars – Altroz, Tiago, Nexon and Harrier have doubled. Growth in wholesales in preceding months of the quarter saw Tata report 89 percent growth through Q3 FY21. Dispatches grew to 68,803 units from 36,354 units. It’s been years since Tata Motors reported such numbers in a quarter.
Shailesh Chandra, President, Passenger Vehicles Business Unit, Tata Motors Ltd. said, “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.”
Q3 FY21 – The auto industry’s golden goose
Given the circumstances in 2020, PV industry demonstrated growth trends through Q3 FY21. This can be attributed to pent up demand, strong festive season demand, and serious considerations when it comes to personal mobility. Tata Motors is focused on continuous ramp up of supplies.
Festive offers and purchase propensity was high for October and November 2020. December sales benefited from deals and discounts offered at year end. More-so, since it’s an absolute priority to sell all stock of CY20 vehicles before the new year commences.
Tata Motors PV launches
Tata refers to its current lineup as its ‘New Forever’ range. January 2021 is set to be one filled with activity. Altroz turbo is scheduled for launch on January 13, and Gravitas, essentially a Harrier with more seats will be unveiled on January 26.
In its segment, Altroz sales surpassed 6k units in October and November 2020. A new turbo variant will help extend the car’s appeal to a wider range of buyers. Specifically those that seek turbo requirements. And this in turn will help boost sales. This is especially required if Tata Motors harbours dreams to top segment sales.
Advancing towards the launch of Gravitas will open up the market a bit wider for Tata Motors. Considering, the need for more seat options for vehicles in the segment, catering to that need can help further sales growth.
Earlier in the month, Tata Motors had announced a price rise for its range of commercial vehicles wef today. Though such an announcement was not made for PVs, a price revision across the range is expected.