Tata Motors Q3 FY22 auto sales up 26% YoY

1 Jan 2022 , 04:24 PM

The company sold 66,307 vehicles (up 24% YoY) in the domestic market in the month of December 2021.

Total domestic sales were 1,89,531 units in Q3 FY22, up by 26% from 1,50,961 units sold in Q3 FY21.

While the companys total commercial vehicle sales rose by 4% to 34,151 units, total passenger vehicle sales jumped by 50% to 35,299 units in December 2021 over December 2020.

Girish Wagh, executive director, Tata Motors, said, ?Tata Motors commercial vehicle domestic sale in Q3 FY22 at 90,529 units was approximately 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 December21, enabling inventory alignment. The SCV and ILCV segments continued to benefit from the growth in e-commerce and the increasing need for last-mile delivery.

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 approximately 10% over the previous quarter (Q2 FY22) and 33% over the same quarter last year (Q3 FY21).

Going forward, we expect the situation to remain fluid as the semiconductor shortage continues, instances of Covid begin to rise and underlying demand continues to remain under pressure.?

Shailesh Chandra, president, Passenger Vehicles Business Unit, Tata Motors, said, ?Tata Motors PV business growth journey continued and set several new milestones during the quarter despite witnessing a shortfall in production due to the ongoing semi-conductor crisis. Decade high quarterly and monthly sales- 99,002 units in Q3 FY22 (growth of 44% vs Q3 FY21) and 35,299 units in Dec21 (growth of 50% vs Dec20) were recorded.

In addition, the company also posted calendar year sale of 3,31,178 units (CY21), highest ever since the inception of the PV Business.

Records were also created on the EV front as EV sales witnessed a new peak of 5,592 units in Q3 FY22 (growth of 345% vs Q3 FY21). Consequently, EV penetration touched 5.6% of PV Sales during the quarter versus 1.8% in the same period last financial year. EV sales also touched 10,000 units in 9MFY22 and crossed 2,000 monthly sales landmark for the first time in Dec21 (2,255 units).

Going forward, semi-conductor supplies will remain the key source of uncertainty. Additionally, the impact of the new strain of Covid needs to be closely tracked.?

Tata Motors, part of the Tata group, is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses.

On a consolidated basis, Tata Motors net loss stood at Rs 4,476.61 crore in Q2 FY22 as against net loss of Rs 343.28 crore in Q2 FY21. Net sales grew 14.4% to Rs 60,435.92 crore in Q2 FY22 over Q2 FY21.

The scrip rose 2.55% to end at Rs 482.35 on the BSE on Friday.

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