Tata Motors - India Volumes Picking Up Pace, Electric Vehicle Optimism Persists: ICICI Direct
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ICICI Direct Report
Tata Motors Ltd. India reports robust volumes for Q2 FY22 at 1.7 lakh units, up 49% QoQ.
India passenger vehicle business posted decade-high quarterly sales of ~84,000 units in Q2 FY22 despite ongoing semiconductor supply shortages.
Domestic electric vehicle sales were higher than 1,000 units for second successive month in September 2021 driven by Nexon EV; 1,078 units for the month and 2,704 units for Q2 FY22 represented best-ever monthly and quarterly electric vehicle sales.
India commercial vehicle volumes jumped 73% QoQ in Q2 FY22 to 86,887 units.
Jaguar LandRover wholesale volumes for Q2 FY22 were at 64,032 units.
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