Tata Motors reports 82 percent increase in June 2022 sales, says demand for passenger vehicles stayed strong

Tata Motors reports 82% increase in total sales in June 2022, demand for passenger vehicles continued to stay strong even as the supply remained impacted, official said, reports PTI.

Tata Motors announced an 82 percent increase in total domestic sales to 79,606 units in June 2022. The homegrown auto major posted a total domestic sales of 43,704 units in the same month last year, Tata Motors said in a statement. Domestic passenger vehicle (PV) sales also grew 87 per cent to 45,197 units against 24,110 units in the year-ago month, it added.

In the first quarter of 2022-23, PV sales were at 1,30,125 units compared to 64,386 units in the year-ago period. "Demand for passenger vehicles continued to stay strong in Q1 FY23 even as the supply side remained moderately impacted due to the lockdown in China.

"Our SUV portfolio contributed 68 per cent of Q1 FY23 sales. Electric vehicle sales attained new heights with quarterly sales of 9,283 in Q1FY23 and highest-ever monthly sales of 3,507 units in June 2022," Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd Managing Director Shailesh Chandra said.

Going forward, he said, "We expect the supply side, including that of critical electronic components, to progressively improve. We will continue to keep a close watch on the evolving demand and supply situation and take appropriate actions." 

Commercial vehicle (CV) sales in the domestic market stood at 34,409 units last month against 19,594 units in June 2021, a growth of 76 per cent, Tata Motors said. In the first quarter of FY23, domestic CV sales stood at 95,703 units over 43,400 units in the comparable period last fiscal.

Tata Motors Executive Director Girish Wagh said, "The growth in Q1 has been broad-based across regions and segments". Increased activity in road construction, mining, and growth in agriculture and e-commerce drove the growth of both medium, heavy, intermediate and light CV segments.

"SCV (small commercial vehicle) demand from last-mile distribution has remained robust backed by continued consumer spending," Wagh added.

(With inputs from PTI)

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