• Tata Motors(NYSE:TTM)announces its domestic & international sales for Q3 FY22, which stood at 1,99,633 vehicles, up 26% Y/Y compared to 1,58,218 units duringQ3 FY21.
• December 2021 sales rose 24% Y/Y to 66,307 vehicles.
• Tata Motors’ Commercial Vehicle domestic sale in Q3 FY22 at 90,529 units was ~15% higher than Q2 FY22 and 10% higher over prior year.
• The International business too continued its recovery momentum and grew by ~10% Q/Q and 33% Y/Y.
• Quarterly and monthly Passenger Vehicle sales - 99,002 units in Q3 2022, up 44% Y/Y and 35,299 units in Dec’21 (growth of 50% vs Dec’20).
• "Going forward, we expect the situation to remain fluid as the semiconductor shortage continues, instances of Covid begin to rise and underlying demand continues to remain under pressure," said Mr. Girish Wagh, Executive Director, Tata Motors.
• Tesla and Chinese EV players NIO, LI, XPEV also reported Q4 and December delivery numbers above company guidance.