Tata Motors Q1 FY21 Domestic Sales Dips 82% YoY

Tata Motors has announced its sales in the domestic & international market, for Q1 FY21, which stood at 25,047 vehicles, compared to 1,37,545 units during Q1 FY20. 

Domestic Sales Performance:

Domestic - Commercial Vehicles:

Girish Wagh, President, Commercial Vehicles Business Unit, Tata Motors Ltd. said, “Amidst subdued demand environment, Q1 was marked by successful transition to BSVI across the range of commercial vehicles. Domestic wholesale for Q1 FY21 was 9,274 units, a 90% drop over Q1 FY20.  As the country moved to the unlock phase, all plants started operations from end of May and ramped up production gradually as parts availability improved. Retails was 67% behind wholesales due to negligible opening inventory at the dealers and muted demand.

There are early recovery signs in a few sectors, and we look forward to a gradual pickup in demand on the back of overall economic recovery, while we continue to address the challenges of intermittent demand and supply disruptions from COVID-19.”

Domestic - Passenger Vehicles:

Shailesh Chandra, President, Passenger Vehicles Business Unit, Tata Motors Ltd. said, “The COVID-19 lockdown deeply impacted PV industry sales in Q1FY21. After partial sales recovery in May’20, pent up demand supported a steeper recovery of retail in June’20. Passenger Vehicle Business cumulatively sold 14,571 units in Q1 FY21, which was -61% lower than Q1 FY20. Retail was stronger than wholesales by 27%, driven by the company’s focus on retail while ensuring optimum inventory levels in the network.

The “New Forever” product portfolio, including the newly launched Altroz, continues to receive a strong response in the market. The response to the company’s EVs continues to be encouraging, with 328 EVs sold during the quarter”

As of 30th June 2020, Company has cash and cash equivalents of more than Rs 5,000 Crores and undrawn committed facilities of Rs 1,500 Crores.