Tata Motors rose 1.20% to Rs 290.80 after the company's sales in the domestic and international market for August 2021 stood at 57,995 vehicles, up 57.87% as against 36,505 units in August 2020.
Total domestic sales rose by 53% to 54,190 units in August 2020 from 35,420 units in August 2021. The company's domestic sales rose 4% last month compared with 51,981 units sold in July 2021.
While total commercial vehicles (CV) sales increased 66% to 29,781 units, total passenger vehicles (PV) sales jumped by 51% to 28,018 units in August 2021 over August 2020. As compared with July 2021, CV sales have improved by 25% while PV sales shrunk by 7% during the period under review.
Tata Motors said that the semiconductor shortage continues to impact the auto industry globally. The recent lockdowns in East Asia have worsened the supply situation and hence the company is forced to moderate production and offtake volumes in the coming months.
The situation is fluid and the company will continue to work to mitigate the impact of this and aim to meet the customer orders through an agile, multi-pronged approach including close engagement with extended supply chain partners, procuring chipsets from the open market, using alternate chips and managing model and trim mix.
"Specifically, EV sales crossed a crucial threshold of 1,000 units this month. The order book is strong and the company aims to meet the robust demand to the best of its abilities despite the supply challenges," the company said in a statement.
Tata Motors, part of the Tata group, is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses.
The auto major's consolidated net loss contracted to Rs 4,450.92 crore in Q1 June 2021 as compared to a net loss of Rs 8,437.99 crore in Q1 June 2020. Total revenue from operations soared 107.63% YoY to Rs 66,406.45 crore in Q1 FY22.
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