Tata Motors, which is seeing a remarkable turnaround in its passenger vehicle business, has posted a robust sales performance for the fiscal year FY2021, driven on the back of a young and dynamic product portfolio.
The company registered cumulative passenger vehicle (PV) sales of 222,025 units in the 11-month period of the financial year, as against 131,196 units sold over 12 months of the previous fiscal - FY2020. It has to be noted that April 2020 was a washout month with zero sales across the industry due to the nationwide lockdown in place as a Covid-tackling measure.
The numbers constitute a year-on-year (YoY) growth rate of 69 percent, a remarkable achievement, considering how companies were scrambling for business continuity measures immediately after the lockdown.
In March 2021, the final month of the last fiscal, Tata Motors clocked total PV sales of 29,654 units, thereby, registering more than five times the growth over its March 2020 sales figures of 5,676 units – a relatively low base which clearly reflects the advent of Covid disruptions on the auto industry and economy in general during this time of last year.
The company's resurgence and sustained performance can be attributed to a slew of new models in its portfolio, including the all-electric Nexon EV crossover which is currently the most-affordable electric passenger vehicle in India, with least compromises in terms of design, space and practicality. Tata Motors has recorded a three-fold jump in EV sales at 4,219 units.
The new Altroz premium hatchback, the face-lifted Harrier SUV that was introduced with an automatic gearbox as well as the sub-four-metre Nexon crossover that went through its midlife makeover are models which were refreshed last year and helped kee[p the company's sales charts buzzing.
To add more fizz to its surging sales drive, Tata Motors introduced the brand-new Tata Safari – its flagship SUV – on February 22.
Cmmenting on the numbers, Shailesh Chandra, President, Passenger Vehicles Business Unit, Tata Motors, said, “The PV industry witnessed a strong growth in Q4 FY2021 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 2021 and Q4 FY2021. In FY2021, the business registered its highest ever annual sales in 8 years, while posting a growth of 69% versus FY2020. 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 FY2021, a threefold increase over FY2020. The company also registered its highest ever monthly and quarterly sales of 705 EVs and 1,711 EVs in March 2021 and Q4 FY2021. The Nexon EV, the highest sold EV in the country, crossed the milestone of 4,000 units, since its launch in January 2020.”