Tata Motors EV sale grows 353% in FY21-22, sells nearly 30k SUVs in March

Girish Wagh, Executive Director, Tata Motors Ltd. said, “Tata Motors’ Commercial Vehicle domestic sale in Q4 FY22 at 1,10,027 units was ~21% higher than the previous quarter (Q3 FY22) and 12% higher than the same quarter last year (Q4 FY21).”

“The MHCV segment grew by over 51% vs the previous quarter, while being 20% ahead of same quarter (Q4) last year, on the back of increased activity in road construction, mining and improved infrastructure spending by the Central and State Governments.”

“ILCVs grew by 18% vs Q3 and 8% vs Q4 last year, supported by growth in e-commerce and agriculture. The SCVPU segment largely remained flat on a quarterly basis while being 5% ahead of last year same quarter. Early signs of recovery were seen in otherwise worst impacted CV passenger segment. The International business continued the momentum and grew by ~3% over the previous quarter (Q3FY22) while being 16% above the same quarter last year (Q4 FY21).”

“We are cautiously optimistic about domestic MHCV & ILCV demand while keeping a close watch on geopolitical developments, fuel inflation and semiconductor shortage.”

Total sales for MH&ICV Domestic & International Business in Q4 2022, including trucks and buses, stood at 52,976 units, compared to 44,569 units in Q4 2021.

Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd. said, “Tata Motors set several new records in a challenging year, disrupted by two waves of Covid, semi-conductor crisis and steep increase in commodity prices. We posted the highest ever annual, quarterly and monthly sales, supported by a strong demand for our New Forever range and agile actions taken on the supply side.”

“We recorded the highest ever annual sales of 370,372 units, registering a growth of 67% vs FY21. Despite the shortage of certain electronic components, we posted the highest ever quarterly sales of 123,051, a growth of 47% vs Q4FY21. We ended the financial year with the highest ever monthly sales of 42,293 units, a growth of 43% vs. March’21 and highest ever SUV sales of 29,559 units,” he added.

“EV sales continued to witness a rapid growth in demand on the back of strong acceptance of Nexon EV and Tigor EV. Our annual EV sales touched 19,106 units, a growth of 353% vs FY21. Quarterly sales of EV were highest at 9,095 units, a growth of 432% vs Q4FY21 and EV sales for March’22 was also the highest at 3,357 units, a growth of 377% vs Mar’21. Going forward, semi-conductor situation remains uncertain. We will continue to monitor the evolving situation closely and are refining our agile, multi-pronged approach to continue to fulfil customer orders,” said Chandra.