Tata Motors’ domestic sales stood at 66,307 units in December 2021 vs 53,430 units in December 2020, recording a 26% rise in year-on-year sales, Tata Motors Limited said in a statement today.
The company said its sales in the domestic and international market for Q3 FY22 stood at 1,99,633 vehicles, compared to 1,58,218 units during Q3 FY21.
Tata Motors’ commercial vehicle domestic sale in Q3 stood at 90,529 units, which was 15% higher than the previous quarter (Q2 FY22) and 10% higher than the same quarter last year (Q3 FY21).
“The retail was ahead of whole sale by 15% in December’21, enabling inventory alignment,” Tata Motors said.
The auto giant said the SCV and ILCV segments continued to benefit from the growth in “e-commerce and the increasing need for last-mile delivery”.
Also read: Multibagger stocks: These Tata shares give up to 2000% return this year
“Construction and infrastructure spending by central and state governments plus rising activity in sectors such as mining, petroleum-oil-lubricants and allied industries facilitated the demand for M&HCVs. The International business too continued its recovery momentum and grew by 10% over the previous quarter (Q2 FY22) and 33% over the same quarter last year (Q3 FY21),” Tata Motors said in a statement.
The company expects the situation to remain “fluid” in the near future as the issues such as semiconductor shortage, rise in Covid cases and underlying demand continues to create hurdles.
“We are keeping a close watch on the evolving situation and sharpening our agile, multi-pronged approach to fulfil customer orders,” Tata Motors said.
The Tata Motors shares closed at ₹482.80, up ₹12.40, on the NSE on Friday.
Also read: Rakesh Jhunjhunwala portfolio: Experts recommend buy on this multibagger stock
Never miss a story! Stay connected and informed with Mint.
Download
our App Now!!
