Tata Motors overtakes Hyundai to grab the number two position in PV sales in December 2021 – The Economic Times

Clipped from: https://economictimes.indiatimes.com/industry/auto/cars-uvs/tata-motors-overtakes-hyundai-to-grab-the-number-two-position-in-pv-sales-in-december-2021/articleshow/88634678.cmsSynopsis

Tata Motors dispatched about 35300 units in December 2021 against 32312 units despatched by South Korean carmaker Hyundai Motor India. During the quarter of October to December, Tata Motors despatched close to 99000 vehicles and ended 2021 with sales of 3.31 lakh units.

Tata Motors, the maker of Nexon SUV, has overtaken Hyundai Motor India to become the second-largest seller of passenger vehicles in the domestic market for the first time in close to a decade in December 2021.

The company also earned the distinction of posting its highest-ever monthly sales in December 2021, highest ever quarterly sales in October to December of 2021 and the highest annual sales since its inception in 2021.

Tata Motorsdispatched about 35300 units in December 2021 against 32312 units despatched by South Korean carmaker Hyundai Motor India. During the quarter of October to December, Tata Motors despatched close to 99000 vehicles and ended 2021 with sales of 3.31 lakh units.

Despite witnessing a shortfall in production due to the ongoing semiconductor crisis, Shailesh Chandra, President, Passenger Vehicles Business Unit, Tata Motors Ltd., said the company’s passenger vehicle business set several new milestones during the quarter.

“Decade high quarterly and monthly sales- 99,002 units in Q3 FY22 (growth of 44% vs Q3 FY21) and 35,299 units in Dec ’21 (growth of 50% vs Dec’ 20) were recorded. In addition, the company also posted calendar year sales of 3,31,178 units (CY21), the highest ever since the inception of the PV Business. The overwhelming market response to Tata Punch launched in Oct ’21 is further boosting demand for the company’s “New Forever” range of cars and SUVs,” added Chandra.

While Hyundai Motor India was insulated for most of 2021 from the semiconductor shortage, the company was forced to correct production and even observe ‘no production days’ due to a shortage of parts over the last few months.

Reviewing the December 2021 sales, Tarun Garg, director of sales and marketing at Hyundai Motor India, said that HMI had managed challenges to ensure smooth deliveries of their favourite Hyundai cars despite key component supply constraints its customers.

“HMI has registered a healthy growth of 19.2 % in CY 2021 in the domestic market over last year’s sales performance. We will continue to drive customer delight with the introduction of smart mobility solutions pegged on the tenets of Intelligent Technology, Innovation and Sustainability,” added Garg.

Tata Motors also posted its record electric vehicle sales at 2255 units, taking the quarterly sales to a peak of 5,592 units; consequently, EV penetration touched 5.6% of PV Sales during the quarter versus 1.8% in the same period last financial year.

The company claimed EV sales also touched 10,000 units in 9MFY22 and crossed the 2,000 monthly sales landmark for the first time in Dec ’21.

“The ever-increasing demand for Nexon EV and Tigor EV, as well as the progressive revival of the EV fleet segment, were instrumental in driving this steep growth. Going forward, semiconductor supplies will remain the key source of uncertainty. Additionally, the impact of the new strain of Covid needs to be closely tracked. We will continue to work on a business agility plan and take proactive actions to mitigate these risks,” cautioned Chandra.

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