Tata Motors registered domestic sales of 1,06,888 units in Q2 FY21

Tata Motors Limited today announced its sales in the domestic & international market, for Q2 FY21, which stood at 1,10,379 vehicles, compared to 1,05,031 units during Q2 FY20.

Mr. Girish Wagh, President, Commercial Vehicles Business Unit, Tata Motors Ltd. said, "Tata Motors' commercial vehicle domestic sales in Q2FY21 at 52,094 units was ~23% lower than Q2FY20. However, it was significantly higher than the previous quarter (Q1 FY21) on the back of gradually increasing demand and improving supply situation. In September'20, the sale at 23,245 units was 38% higher than last month while being 4.3% below September'19. Offtake was higher than retail, as we prepare for sequential improvement in retails in the coming months. Our BSVI products are receiving very good response from customers, as these deliver on the promise of better earnings potential across applications, along with enhanced comfort, connectivity and performance.

Total CV sales during September 2020 was at 24,910 as compared to 28,079 registering a drop of 11% YoY. The passenger vehicles sales surged 162% YoY at 21,199 during September 2020 as against 8,097 during September 2019.

Mr. Shailesh Chandra, President, Passenger Vehicles Business Unit, Tata Motors Ltd. said, "PV industry witnessed recovery in Q2FY21, supported by festive sales in some regions and continued benefit from pent-up demand across the country. In September 2020, wholesales were higher than retail ahead of the festive season. Despite challenges owing to rising Covid-19 cases across the country, supply-side has been progressively improving. Tata Motors PV business posted a wholesale of 54,794 units in Q2FY21, which is 112% growth as compared to Q2FY20. For September 2020, wholesale of 21,199 units was 163% higher than Sep 2019. This steep growth is attributed to increased demand for all our products in the "New Forever" range. The company also sold 924 EVs in Q2FY21, with an encouraging response received for Nexon EV."

Shares of TATA MOTORS LTD. was last trading in BSE at Rs.133.5 as compared to the previous close of Rs. 133.3. The total number of shares traded during the day was 1674311 in over 8140 trades.

The stock hit an intraday high of Rs. 136.5 and intraday low of 132.6. The net turnover during the day was Rs. 225701631.

Source : Equity Bulls

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