Tata Motors shares bounce to turn into second largest carmaker

Tata Motors reported an almost 50 per cent improve in December gross sales, overtaking Hyundai Motor as India’s second-largest carmaker after a long time.

By :
HT Auto Desk

03 Jan 2022, 12:31 PM

Tata Motors shares have surged to turn into India’s second largest carmaker.

Tata Motors, India’s second largest carmaker after a long time, overtaking Hyundai Motor, noticed its shares rise on Monday. Shares jumped after December’s gross sales report, by which Tata Motors posted an increase of practically 50 per cent over December final yr.

Shares of Tata Motors rose practically 4 per cent on Monday. Shares bounce 3.59 per cent 499.70 on BSE. With a acquire of three.60 p.c on NSE 499.80.

Tata Motors offered 35,299 models of passenger autos in December 2021. The carmaker had offered a complete of 23,545 models in the identical month a yr in the past.

Tata Motors stated complete passenger car gross sales within the third quarter stood at 99,002 models as towards 68,806 models offered in the identical interval final yr. It is a sharp improve of round 44 per cent.

Shailesh Chandra, President, Passenger Automobiles Enterprise Unit, Tata Motors, stated, “Tata Motors PV enterprise continued its development journey and set a number of new milestones through the quarter regardless of the discount in manufacturing because of the present semi-conductor disaster.”

Tata Motors earlier final week transferred its total passenger car enterprise to Tata Motors Passenger Automobiles Ltd. The carmaker has beforehand stated that it desires to transform its home PV enterprise unit right into a separate entity, and seeks a strategic partnership to assist safe the long-term viability of the unit.

An necessary side of Tata Motors’ rise as a automobile maker has been the efficiency of its electrical autos. Armed with solely two – the Nexon EV and the Tigor EV – Tata Motors has a majority stake within the 4 wheeler electrical car phase in India. “EV gross sales witnessed a brand new peak of 5,592 models in Q3 FY22 (development of 345 per cent versus Q3 FY21),” Chandra stated.

Tata Motors’ electrical car gross sales touched 10,000 models within the first 9 months of the present fiscal. Final month, Tata Motors crossed the two,000 month-to-month EV gross sales mark for the primary time with 2,255 models offered.

First printed date: 03 Jan 2022 at 12:31 PM IST

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