Tata Motors, which has achieved a remarkable turnaround on the back of a young and dynamic product portfolio, is headed for a record fiscal year 2022. The manufacturer is just 10,003 units shy of its total passenger vehicle (PV) sales of 2,12,022 units in FY2021 and could hit 3,30,000 units by end-March. And its EV sales, at 7,756 units, have already scaled a new high with four months left to go for FY2022.
Tata is just around 10,000 units short of matching its FY2021 sales
Sold 7,756 EVs in FY2022 so far
FY2022 EV sales constitute a 272 percent YoY growth
Tata Motors FY2022 overall passenger vehicle sales
With eight months of the fiscal over, Tata Motors has clocked robust numbers in both PV and electric vehicle (EV) segments. In November 2021, the company was third in the PV pecking order and clocked a strong 38 percent year-on-year growth with sale of 29,778 units. Do the math for cumulative sales in the year to date and what you get is a total of 2,12,022 units, which is 10,003 units shy of the 2,22,025 units the carmaker sold in all of FY2021, when it clocked 69 percent year-on-year (YoY) growth.
Given that it has been averaging monthly sales of over 29,000 units for the past four months, the FY2021 total sales mark will be crossed in December 2021 itself. This also means Tata Motors is headed towards notching sales of an estimated 3,30,000 units this year. At this stage in the fiscal, it has registered solid 85 percent YoY growth.
Tata Motors FY2022 electric vehicle sales
On the EV front, the company is fully plugged into the growth story, and at half-way stage in FY2022 had already crossed its FY2021 sales total of 4,219 units. Between April and September 2021, 4,419 Tata EVs had been sold, accounting for 70.57 percent of the total EV sales in the first-half of FY2022. At this point, the Nexon EV – India’s bestselling EV – had 3,618 units to its credit and a 58 percent market share, while the Tigor EV, with 801 units, had 13 percent and was third-placed on the EV sales chart after the MG ZS EV.
Tata Motors’ EVs have maintained the growth momentum in October 2021 and November 2021 with 1,586 units and 1,751 units, respectively, through three models – Nexon, Tigor and the X-Pres T EV – taking its eight-month (April-November) total to 7,756 units.
The company has expanded its portfolio with the addition of the Tigor EV, which was launched on August 31 at an aggressive Rs 11.99 lakh. Also, recognising the growing demand from fleet users, Tata introduced the Xpres-T EV in mid-September. On October 29, the company bagged a supply order from Delhi-NCR electric fleet operator BluSmart for 350 Xpres-T EVs.
The eight-month cumulative sales of 7,756 units constitute 272 percent YoY growth (April-November 2020: 2,087). Given the average monthly sales of 969 units, and four months to go for FY2022 to close, Tata Motors could be close to the 12,000-unit EV sales mark this fiscal. If this sales figure is attained, it will mean that EVs will account for 3.6 percent of total PV sales for the company. Of course, Tata Motors has the advantage in the EV segment in India, given that there is hardly any competition to write home about.
Tata Motors’ growth outlook
Given the sales momentum the Tata brand has in the PV and EV markets, there is little to slow down its growth. If at all, the semiconductor supply crisis, which is impacting all carmakers in different proportions, could prove to be a hiccup or two. In early November, P B Balaji, CFO, Tata Motors, had said, “The average waiting time for most (Tata Motors’) passenger vehicles is around 6-8 weeks. For the more popular models, it is around 9-10 weeks and for electric vehicles, it is up to 6 months waiting time.”
For the moment, though, there is little to stop Tata in its tracks. The recently launched Tata Punch micro-SUV is also expected to punch above its weight and has been tasked with helping to increase the company’s utility vehicle (UV) market share to 10 percent from around 6 percent at present.
What is also helping the company’s PV fortunes is the growing safety consciousness amongst car and SUV buyers in India. With a portfolio that includes Global NCAP 5-star-rated products like the Nexon, Altroz and Punch, and four-star siblings like the Tigor EV, Tata, along with Mahindra & Mahindra, is leveraging its safety expertise in the marketplace.
What do you think is the cause for Tata’s impressive FY2022 performance so far? Let us know in the comments below.