Tata Motors shares leap to turn into second largest carmaker

Tata Motors reported a virtually 50 per cent enhance in December gross sales, overtaking Hyundai Motor as India’s second-largest carmaker after many years.

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 many years, 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 almost 50 per cent over December final 12 months.

Shares of Tata Motors rose almost 4 per cent on Monday. Shares leap 3.59 per cent 499.70 on BSE. With a achieve of three.60 % on NSE 499.80.

Tata Motors offered 35,299 items of passenger autos in December 2021. The carmaker had offered a complete of 23,545 items in the identical month a 12 months in the past.

Tata Motors mentioned complete passenger car gross sales within the third quarter stood at 99,002 items as in opposition to 68,806 items offered in the identical interval final 12 months. This can be a sharp enhance of round 44 per cent.

Shailesh Chandra, President, Passenger Autos Enterprise Unit, Tata Motors, mentioned, “Tata Motors PV enterprise continued its development journey and set a number of new milestones in the course of 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 Autos Ltd. The carmaker has beforehand mentioned that it needs 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 essential facet 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 items in Q3 FY22 (development of 345 per cent versus Q3 FY21),” Chandra mentioned.

Tata Motors’ electrical car gross sales touched 10,000 items 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 items offered.

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

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