Tata Motors sells over 500,000 PVs in 2022, beats Hyundai in December sales - watsupptoday.com
Tata Motors sells over 500,000 PVs in 2022, beats Hyundai in December sales
Posted 02 Jan 2023 01:58 PM

AGENICES

Date :- 02-01-2023
Watsupptoday Desk

Homegrown automobile major Tata Motors registered domestic passenger vehicle (PV) volumes of more than 500,000 units for the first time during a calendar year (CY), despatching 526,798 units in 2022, on the back of robust demand for its 'New Forever' range of models, including the Tiago, Tigor, Altroz, Punch, Nexon, Harrier and Safari. With CY22 being a record year for Tata Motors, the carmaker was merely 25,713 units behind Hyundai Motor India, which reported highest-ever wholesale despatches of 552,511 units to domestic dealerships during the year. However, Tata Motors replaced Hyundai as India's second largest PV manufacturer in terms of volumes with wholesale despatches of 40,043 units in December 2022 against 38,831 units by the Indian subsidiary of the South Korean giant. This was the third occasion when Tata Motors came in at the second position in a month, the previous two being in May 2022, when Hyundai's Chennai plant was shut down for the scheduled biannual maintenance, resulting in six days of no production, and December 2021. Tata Motors' domestic PV wholesales increased 13.4% to 40,043 units in December 2022 from 35,299 units in the year-ago month. The company sold 32,954 units of commercial vehicles (CVs) in December 2022, logging a growth of 6.3% over 31,008 units despatched in the same month last year. So far as the total domestic volumes (PVs + CVs) are concerned, Tata Motors witnessed a rise of 10% to 72,997 units in December 2022 from 66,307 units in December 2021. "For Tata Motors passenger vehicles, CY22 has been a momentous year as we outpaced industry growth and crossed the distinctive milestone of 500,000 units comfortably to post wholesale of 526,798 units," managing director, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility. the December quarter was one of the best quarters for the PV industry with strong retail from new launches, robust festive demand and an adequate supply of vehicles. "Tata Motors PV posted the highest ever quarterly and monthly retails in the December quarter and December 2022, respectively. We also crossed the coveted 50,000 units of monthly retail for the first time". "EVs posted their highest-ever sales in the December quarter at 12,596 units and crossed the landmark cumulative sales milestone of 50,000 units. Tiago.ev received a tremendous response, post the bookings opening during the quarter with its deliveries scheduled to start in January 2023. Going forward, we expect the growth momentum for EVs to remain strong with their rising popularity and the announcement of progressive policies by several states".

Leave a comment: (Your email will not be published)