Tata Motors reports growth in domestic passenger vehicle wholesale sales in September 2021
The production of automobiles, an industry that is a major consumer of semi-conductor components, has been grappling with constraints in recent months. Across the spectrum, the data points to a decline in car production in September 2021 compared to August 2021. Despite this, some manufacturers have performed better than others.
Tata Motors’ PV business has seen the tide in its favor in recent months. That’s when it comes to wholesale sales in the domestic market. The recent spurt in wholesale sales has resulted in Tata registering the highest quarterly sales in nearly a decade. The wholesale sales in the last 3 months have been 83,933 units. Sales growth is pegged at 53 per cent as compared to Q2FY21.
Rising costs of critical components are having a real impact on companies, markets and consumers around the world. Tata Motors had increased the prices of its passenger vehicles in August 2021. The same was done for commercial vehicles, starting today.
Tata Motors sales September 2021
The increase in sales has been attributed to ‘improving demand in the industry after the second wave of Covid’. Tata Motors PV Business sold 25,730 units in September’21, registering a growth of 21.37 percent. Volume growth stood at just over 4.5k units, up from 21,199 units sold in September 2020.
This is despite the fact that the auto industry for the most part is facing a shortage of electronic components. MoM sales fell 8.17 per cent. Volume decline stood at 2,288 units, just over 28k units. Best sellers include Nexon, Tiago, Altroz, Harrier, Safari and Tigor. Even Nexon Electric and Tigor Electric registered sales of over 1k.
With this, Tata Motors once again finds itself in the role of the third highest PV sold every month. With the start of Q3 FY22, manufacturers are keen to capitalize on the traditional demand during the festivities. The lack of an often mentioned chip is playing poorly for most of the big names. Keeping in mind the excitement about the festive season launch, Tata Motors will launch its small car Punch on 4 October 2021.
Tata Motors EV Sales
Shailesh Chandra, President, Passenger Vehicles Business Unit, Tata Motors Limited said, “In the EV segment, the company crossed the 1,000 unit milestone for the second consecutive month and recorded its highest monthly and quarterly sales of 1,078 units and 2,704 units, respectively.
With the growing acceptance and popularity of the Nexon EV and Tigor EV, EV sales have registered a nearly three-fold increase. The demand for cars and SUVs is expected to remain strong in the coming festive season; However, the supply situation for electronic components may witness challenging times.”