Tata Motors sells over 51,000 units in July; registers 92% growth
Tata Motors on Sunday reported a 92% growth in domestic sales over last year as the home-grown car maker sold 51,981 units of vehicles last month as compared to 27,024 units sold in July of 2020. It witnessed a 19% month-on-month growth as the sales rose from 43,704 units sold in June this year.
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The company's overall sales in the domestic and international markets stood at 54,119 vehicles last month as against 27,711 units during July of 2020.
In the domestic market, Tata Motors sold 30,185 units of passenger vehicles as compared to 15,012 units in the year-ago period, registering a growth of 101% while it witnessed an increment of 25% month-on-month from 24,110 units in June this year.
The auto maker sold 21,796 units of commercial vehicles in the domestic market last month as compared to 12,012 units in July of 2020, a growth of 81%. It witnessed a month-on-month growth of 11% from 19,594 commercial vehicle units sold in June this year.
While the company has seen a growth in domestic sales figures, it continues to face supply constraints due to semiconductor shortage. It has planned to deal with the crisis by making changes in its product configurations and buying chips directly from stockists. It is also looking to use different kinds of chips in components where the supply is most affected.
Due to the steep rise in procurement cost of essential materials like steel and precious metals, the car maker had announced a hike in prices of passenger vehicles across the entire range that will come into effect this month. This will be the third price hike by Tata Motors this year after price hikes announced in January and May. The company has also initiated several cost reduction moves to be able to reduce impact of steep rise in procurement cost of essential materials.