≡ Menu

Advertisement


Tata Motors In 2021 – Car And Vehicle Sales Figures

Tata Motors’ Nexon. Flickr Image.

This article is keeping track of Tata Motors Limited (TML)’s vehicle sales volume on a quarterly basis.

For your information, Tata Motors Limited is a wholly-owned subsidiary of Tata Motors Group, a leading global automobile manufacturing company based in Mumbai, India.

Aside from Tata Motors Limited, Tata Motors Group also wholly owns Jaguar Land Rover (JLR), a UK-based company that was only established after the acquisition in 2008.

Therefore, the vehicle sales volume presented in this article includes only those from Tata Motors Limited.

In addition, the vehicle sales volume that we are going to discuss here is on a wholesale basis.

There is a difference between retail and wholesale basis.

In simple terms, wholesale-based vehicle sales volume generally correlates closely with the revenue or sales data presented in the company’s profit and loss statements whereas retail-based vehicle sales volume does not.

Let’s go take a look!

Total Vehicle Sales Volume

Tata Motors total vehicle sales volume

Tata Motors total vehicle sales volume

* Total vehicle sales data is obtained directly from TML’s quarterly press releases.
* TTM data comes form the author’s own calculation and is based on the sum of the quarterly figures on a trailing 12-month or 4-quarter basis.
* TML’s fiscal year begins on April 1 and ends on March 31.

For total vehicle sales volume, Tata Motors Limited delivered 636,000 vehicles on a wholesale basis as of 2Q FY22, a record high for the company since FY20.

Despite facing a multitude of challenges in FY22, including the chip crisis as well as the ongoing COVID-19, TML continues to execute efficiently for both the domestic and international markets.

As a result, TML’s vehicle sales have been on a rise after bottoming out in 1QFY21 at 361,000 units and the figure has nearly doubled in Q2 FY22.

On a year-on-year basis, Tata Motors Limited’s TTM vehicle sales of 636,000 units reported in 2Q FY22 represent a growth rate of more than 70%.

Domestic And Export Vehicle Sales Volume

Tata Motors domestic and export vehicle sales volume

Tata Motors domestic and export vehicle sales volume

* Domestic and export sales data is obtained directly from TML’s quarterly press releases.
* TTM data comes form the author’s own calculation and is based on the sum of the quarterly figures on a trailing 12-month or 4-quarter basis.
* TML’s fiscal year begins on April 1 and ends on March 31.

In the domestic market of India, Tata Motors Limited shipped slightly more than 600,000 vehicles on a TTM basis as of 2Q FY22, and this figure made up as much as 95% of the company’s entire volume.

Since FY21, TML’s domestic vehicle sales volume has been rising after plummeting to only 334,000 units in 1Q FY21 during the onset of the COVID-19 pandemic.

As of FY22 Q2, Tata Motors Limited’s domestic vehicle volume grew 75% on a year-over-year basis.

In contrast, TML’s export sales consisted of less than 5% of the company’s entire volume in FY22 Q2, notably only at 32,000 vehicles.

Despite the relatively small volume, Tata Motors Limited’s export sales in Q2 FY22 were also at a record high, representing a 60% growth rate compared to the same quarter a year ago.

In short, TML’s both domestic and international markets have already recovered to their pre-pandemic levels as of 2Q FY22, and the figures have far exceeded that of the pre-pandemic levels.

Total Commercial Vehicle Sales Volume

Tata Motors commercial vehicle total sales volume

Tata Motors commercial vehicle total sales volume

* Commercial vehicle sales data is obtained directly from TML’s quarterly press releases.
* TTM data comes form the author’s own calculation and is based on the sum of the quarterly figures on a trailing 12-month or 4-quarter basis.
* TML’s fiscal year begins on April 1 and ends on March 31.

Tata Motors Limited’s commercial segment is an important business to the company as it is as large as its passenger segment, and contributes tonnes of sales to the company.

The company sells a variety of commercial vehicles such as trucks, vans and buses.

In 2Q FY22, TML’s commercial segment delivered 334,000 vehicles on a TTM basis, driven mainly by the pent-up demand for the company’s medium and heavy trucks (M&HCV) in a post-pandemic world.

Despite the significant recovery across all business segments, Tata Motors Limited’s commercial segment was still slightly less than its pre-pandemic result in 2Q FY22 at 334,000 vehicle deliveries.

Nevertheless, I believe TML’s commercial vehicle sales volume will fully recover and even exceed its pre-pandemic levels in the next quarter given the continued recovery of the Indian economy.

Tata Motors Limited has witnessed a higher number of road construction projects being awarded and improving cement consumption in the 2nd quarter, and the result is higher utilization of commercial vehicles, trucks in particular.

Commercial Vehicle Domestic And Export Sales Volume

Tata Motors commercial vehicle domestic and export sales volume

Tata Motors commercial vehicle domestic and export sales volume

* Commercial vehicle domestic and export sales data is obtained directly from TML’s quarterly press releases.
* TTM data comes form the author’s own calculation and is based on the sum of the quarterly figures on a trailing 12-month or 4-quarter basis.
* TML’s fiscal year begins on April 1 and ends on March 31.

Again, the domestic market has largely dominated Tata Motors Limited’s commercial vehicle sales volume.

As of 2Q FY22, TML shipped slightly more than 300,000 commercial vehicles on a TTM basis to the domestic market of India compared to only 31,000 vehicles for the export market.

Both domestic and export markets’ commercial vehicle sales have recovered significantly in 2Q FY22, and the results represent a far higher figure compared to that of the pandemic period.

Despite the relatively small sales volume for the export market for commercial vehicles, it recovered the fastest compared to the domestic market and grew more than 70% year-on-year in 2Q FY22 to more than 30,000 units.

Total Passenger Vehicle Sales Volume

Tata Motors passenger vehicle total sales volume

Tata Motors passenger vehicle total sales volume

* Passenger vehicle sales data is obtained directly from TML’s quarterly press releases.
* TTM data comes form the author’s own calculation and is based on the sum of the quarterly figures on a trailing 12-month or 4-quarter basis.
* TML’s fiscal year begins on April 1 and ends on March 31.

According to the chart above, Tata Motors Limited’s passenger vehicle sales volume seems to have recovered and grown at a much faster speed compared to the commercial segment.

As seen, TML’s total passenger vehicle sales volume reached more than 300,000 units as of FY22 Q2 on a TTM basis, representing a year-on-year growth rate of nearly 120%.

The 2Q FY22 vehicle delivery figure was 130% higher than that of the pre-pandemic level which clocked in at 131,000 vehicles in 4Q FY20.

In addition, Tata Motors Limited’s passenger segment was much smaller than its commercial segment in terms of vehicle volume in the past.

However, as of 2Q FY22, TML’s passenger segment was at the same size as that of its commercial business in terms of vehicle volume.

Therefore, Tata Motors Limited’s passenger segment has grown at a much faster growth rate than its commercial counterpart.

In short, TML’s passenger vehicle sales have been on a tear during pre-pandemic and post-pandemic periods.

Passenger Vehicle ICE And EV Sales Volume

Tata Motors passenger vehicle ICE and EV sales volume

Tata Motors passenger vehicle ICE and EV sales volume

* ICE and EV sales data is obtained directly from TML’s quarterly press releases.
* TTM data comes form the author’s own calculation and is based on the sum of the quarterly figures on a trailing 12-month or 4-quarter basis.
* TML’s fiscal year begins on April 1 and ends on March 31.

The breakdown of Tata Motors Limited’s passenger segment shows that the company’s ICE vehicle sales still make up the majority portion of the total vehicle volume in the passenger segment.

As of 2Q FY22, ICE vehicle sales reached as many as 293,000 units, a record high for the company in the last 3 quarters.

On the other hand, Tata Motors Limited’s EV sales reached only 7,000 units as of 2Q FY22 on a TTM basis, a far lower number compared to the ICE vehicle delivery figure.

Despite the relatively low volume for EV sales, this segment has grown at more than 30% sequentially compared to the 10% growth rate reported in the ICE segment.

According to Tata Motors, the Nexon EV and Tigor EV contributes the bulk of the sales in the EV segment.

Going forward, TML expects that car and SUV sales in the passenger segment will dominate in the coming quarter due to the coming festive season at the end of the year.

However, the company also stressed that vehicle sales will still face challenging times because of the tight supply of electronic components.

Conclusion

Tata Motors Limited’s vehicle wholesale data is presented in this article, and the wholesale data is different from the retail sales data.

In terms of total vehicle volume, Tata Motors has managed to sail through the pandemic in 2Q FY22 and reported a total delivery figure that surpassed 600,000 units for the 1st time on a TTM basis.

Domestic volume is taking the majority share of the company’s vehicle delivery at a ratio of more than 95%.

This ratio is the same for the company’s commercial business in which most of the vehicle sales are delivered locally instead of being exported.

Therefore, TML still relies heavily on its domestic market for vehicle sales and growth.

While Tata Motors’s passenger segment was far smaller than its commercial segment back in FY21, it is now at the same size as that of its commercial segment in terms of vehicle volume.

In the passenger segment, TML delivered nearly 300,000 ICE vehicles in 2Q FY22 compared to only 7,000 electric vehicles on a TTM basis.

Credits And References

1. All financial data in this article was obtained and referenced from Tata Motors’ financial statements available in Tata’s Investor Relation.

2. Featured images in this article are used under creative commons licenses and sourced from the following websites: Tata and Nexon Concept.

Useful Statistics For Other Stocks

Disclosure

The content in this article is for informational purposes only and is neither a recommendation nor a piece of financial advice to purchase a stock.

If you find the information in this article helpful, please consider sharing it on social media and also provide a link back to this article from any website so that more articles like this one can be created in the future. Thank you!

{ 0 comments… add one }

Leave a Comment


X

Forgot Password?

Join Us