Tata Motors reports growth for domestic passenger vehicle wholesales in September 2021
Production of automobiles, an industry that is a large consumer of the semi-conductor components, has been dealing with constraints in recent months. Across the spectrum, data points to a fall in car production in September 2021 as compared to August 2021. Despite this, some manufacturers have fared better than others.
Tata Motors PV business has seen the tide in its favour in recent months. That is when it comes to wholesales in the domestic market. A recent uptick in wholesales has resulted in Tata reporting the highest quarterly sales in almost a decade. Wholesales for the last 3 months are reported at 83,933 units. Sales growth is pegged at 53 percent over Q2FY21.
Rising cost of vital components is having a real impact on companies, markets, and consumers across the world. Tata Motors increased the price of its passenger vehicles in August 2021. The same was done for commercial vehicles, starting today.
Tata Motors Sales Sep 2021
Sales growth is attributed to ‘demand recovery in the industry post Covid second wave’. In Sep’21, Tata Motors PV Business sold 25,730 units at a growth of 21.37 percent. Volume growth stood at just over 4.5k units, over 21,199 units sold in Sept 2020.
This despite the fact that the auto industry for the most part is facing a shortage of electronic components. MoM sales fell by 8.17 percent. Volume decline stood at 2,288 units, down from just over 28k units. Best sellers include, Nexon, Tiago, Altroz, Harrier, Safari and Tigor. Even the Nexon Electric and Tigor Electric posted sales of more than 1k.
With that, Tata Motors yet again finds itself settling into the role of third most PV sold each month. With the start of Q3 FY22, manufacturers are keen on cashing in on traditional demand during festivities. An oft mentioned chip shortage has been playing spoilsport for most big names. Tata Motors will launch its small car Punch on October 4, 2021 in keeping with the excitement around festive season launches.
Tata Motors EV sales
Shailesh Chandra, President, Passenger Vehicles Business Unit, Tata Motors Ltd. said, “In the EV segment, the company for the second month in succession crossed the 1,000 unit milestone to register its highest ever monthly and quarterly sales of 1,078 units and 2,704 units respectively.
EV sales recorded nearly a three-fold growth with the rising acceptance and popularity of the Nexon EV and Tigor EV. Looking ahead, the demand for cars and SUVs is expected to remain strong in the forthcoming festive season; however, the supply situation for electronic components may continue to witness challenging times.”