Tata Motors has recorded a sales growth 422 per cent in the passenger vehicle business in March 2021 selling 29,654 units as compared to 5,676 units sold in the same month a year ago. The sales in the month of March last year were subdued due to the outbreak of COVID-19 pandemic and the subsequent lockdown. The carmaker also recorded a growth of 162 per cent in Q4 selling 83,857 units as compared to 32,000 units sold in the same period last year. Coming to FY21 sales figure, the company recorded a growth of 69 per cent at 131,196 units as compared to 222,025 units sold in the last fiscal year. A better measure of sales performance will be to compare the 29,654 units sold in March 2021 to the 27,225 units sold in February 2021, which is an increase of 8.92 per cent, month-on-month.
Shailesh Chandra, President, Passenger Vehicles Business Unit, Tata Motors Ltd. said, "The PV industry witnessed a strong growth in Q4FY21 on a low base with robust demand for personal mobility and new launches driving demand. Tata Motors PV Business posted its highest ever sales in 9-years, in March 21 and Q4 FY21. In FY21 the business registered its highest ever annual sales in 8 years, while posting a growth of 69% versus FY20. The company's "New Forever" product range, including the new Tata Safari, continues to witness strong acceptance in the market. In the EV segment, the company sold 4,219 units in FY21, a threefold increase over FY20. The company also registered its highest ever monthly and quarterly sales of 705 EVs and 1,711 EVs in March 21 and Q4 FY21. Nexon EV, the highest sold EV in the country, crossed the milestone of 4,000 units, since its launch in January 2020."
The company has also recorded growth in its commercial vehicle business. It recorded a growth of 470 per cent selling 40,609 units in March 2021 as compared to 7123 units sold in March 2020. The triple digit growth even in the CV business is due to the same reason. In Q4 it recorded a growth of 56 per cent selling 107,484 units against 69,096 units sold in the same period a year ago. That said, the automaker recorded a decline of 23 per cent in annual sales of CVs selling 262,773 units as compared to 340,700 units sold in the same period last year.