Tata Motors ’ stock rallied over 3% during the early trading hours on Monday after the company reported a 21% increase in total vehicle sales.- The company said its passenger vehicle business has been witnessing the strong response to its “New Forever” range, which is being supported by a continuous ramp-up of supplies.
- Its electric vehicle offering, Tata Nexon EV has seen considerable success — clocking in 2,200 units in sales in just $4 since its launch.
- Tata Motors has a slew of launches lined up in January, from Tata Altroz Turbo-Petrol to Tata Gravitas and more.
The strong showing comes after a whopping 84% jump in the passenger vehicles (PV) segment during the period. This was significantly higher compared to its other listed peers — Maruti’s PV grew 14% in December, whereas Mahindra’s passenger vehicle grew 3% during the same period.
Tata Motors’ passenger vehicles business has been witnessing the strong response to its “New Forever” range, which is being supported by a continuous ramp-up of supplies. The Tata Motors’ New Forever BS6 range comprises Tiago, Tigor, Nexon, Harrier, Altroz and more. And, under its ‘New Forever’ philosophy, the company will update its models “$4” in the country.
According to the Nirmal Bang report dated December 4, there’s a strong demand for its products in the passenger vehicle segment. In fact, its electric vehicle offering, Tata Nexon has seen considerable success — clocking in 2,200 units in sales in just $4 since its launch. Tata Nexon EV is the cheapest and the best-selling electric car in India.
There has been some recovery even in the commercial vehicles segment. Though Tata’s commercial vehicle sales declined during the month compared to the same period last year, they were still significantly higher compared to the second quarter of the same financial year.
The quarter of revival for Tata Motors
While it is just not December, the whole third-quarter from September to December has been a period of a strong revival. The company reported 24% during the period compared to the same time last year.
Tata Motors President, Passenger Vehicles Business Unit, Shailesh Chandra said, “The PV industry continued to grow robustly in Q3 FY21, owing to pent up demand, strong festive season and shift towards personal mobility.”
Tata Motors MD and CEO Guenter Butschek also told PTI that the company's orders for domestic passenger cars were at an all-time high with demand exceeding production and market share improving.
"We remain focused on delighting our customers and comprehensively addressing their evolving mobility needs by introducing relevant products that are high on safety, efficiency, quality and comfort," he added.
The company is starting the new year on a strong note. It also has a range of $4 lined up in January - from Tata Altroz Turbo-Petrol to Tata Gravitas and more.
Street view: Tata Motors
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