Tata Motors bags second spot in December 2021 sales, crosses Hyundai
According to the company's top executive, Tata Motors' PV division continued to develop and reached many new milestones during the quarter, despite a production shortage owing to the ongoing semiconductor issue.
FollowTata Motors, a domestic vehicle manufacturer, announced a year-on-year increase in domestic sales of 24% in December 2021. Domestic sales increased to 66,307 units in the month under review, up from 53,430 units in December 2020. This effectively means that Tata Motors took the second spot, in terms of sales, ahead of Hyundai in December 2021. Total commercial vehicle sales for the firm increased to 31,008 units in December 2021, up from 29,885 units sold in the same month the previous year. Total passenger car sales climbed by 50% to 35,299 units in December 2020, up from 23,545 units in December 2019.
According to the company's top executive, Tata Motors' PV division continued to develop and reached many new milestones during the quarter, despite a production shortage owing to the ongoing semiconductor issue. He said the overwhelming market response to Tata Punch launched in October 2021 further boosts demand for the company's 'New Forever' range of cars and SUVs'.
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He also stated that the ever-increasing demand for Nexon EV and Tigor EV and the gradual recovery of the EV fleet market had a role in driving this high development. He went on to say that semiconductor supply will continue to be a major cause of concern. Furthermore, the impact of the new Covid strain must be continuously monitored. He stated that the company would continue working on a business agility strategy and take proactive measures to reduce these risks.
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In other news, Tata Motors, India's largest vehicle manufacturer, is reportedly planning to invest up to $2 billion (Rs 15,000 crore) over the next four years in order to launch ten new electric vehicles, while its passenger vehicle unit, which was in the red a few years ago, hopes to improve and generate free cash flow by 2022-23.
