Tata Motors back to 3rd spot after 9 years: 69% sales growth in FY21

[ad_1]

Tata Motors has announced its sales performance for March 2021 as well as the entire 2020-2021 financial year. The automaker has now reclaimed the crown of being the third-largest passenger carmaker in India.

Tata Motors has reclaimed the third-largest automaker spot in terms of sales volume in India in March 2021. The automaker sold 29,654 passenger vehicles last month reporting massive growth against the same period last year. As in the second half of March 2020, India went into lockdown due to the pandemic, numbers from that time period are not entirely representative for comparison for growth. However, helped by the Harrier and the reincarnation of the Safari SUV, the automaker has been seeing steady growth month on month. In February 2021, the Indian automaker sold 27,225 units in March 2021 which means that M-o-M growth for Tata was just under 9%.

Tata Motors Q4 FY21 Sales Performance – Passenger Cars

Tata Motors recorded growth of 162% in the final quarter of the financial year (Q4- Jan-Mar 2021). The automaker sold a total of 83,857 units when compared to 32,000 units from the corresponding period last year.

Tata Motors FY21 Sales Performance – Passenger Cars

In the entire financial year (April 2020-March 2021), Tata Motor sold 222,025 passenger vehicles. Compared to 131,196 units from the previous fiscal, Tata saw a growth of 69% despite the downturn of the auto sector. This is even more of a milestone achievement as due to the coronavirus pandemic lockdown, the entire auto industry, like others, was not operational for around two months.

Tata Motors FY21 Sales Performance – Commercial Vehicles

However, in the commercial vehicle department, especially in the domestic market, Tata Motors did not see its sales rise as steep. The automaker recorded a total of 242,490 unit sales in FY21. Resulting in a slump in sales, recorded at -22% when compared to 310,855 units. Export demands were also in the same boat recording de-growth of -32% with 20,283 units shipped, compared to 29,845 units from the previous fiscal. However, Tata Motors looks to be recovering month on month with its commercial vehicle business.

Tata Motors FY21 Overall Sales Performance

Putting the unrepresentative month-on-month comparisons aside, the automaker overall reported growth in FY21. Its cumulative sales between Commercial Vehicles and Passenger Vehicles stood at 464,515 units. Comparing it with the previous year’s performance of 442,051 units, Tata Motors recorded an overall growth of 5%.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs,
calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.



[ad_2]

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *