In December 2021, Tata Motors sold a total of 2,255 electric cars, which translates to a gigantic sales growth of 439 per cent on a YoY basis
Tata Motors has reported a strong sales growth in passenger car sales in December 2021 – 50 per cent on a Year-on-Year (YoY) basis to 35,299 units. The homegrown carmaker’s electric vehicle business saw a gigantic jump in sales as well – a whopping 439 per cent on a YoY basis, with 2,255 units sold last month as compared to 418 units in December 2020.
This is the first time Tata’s EV monthly sales have crossed the 2,000-unit mark, which is an extremely impressive feat. In November 2021, Tata had sold a total of 1,751 electric cars, which equates to a Month-on-Month (MoM) growth of 29 per cent in December 2021. In Q3 of FY22, a total of 5,592 EVs were dispatched by Tata, which is a 345 per cent growth compared to 1,256 units in Q3 FY21.
Tata Motors continues to maintain its lead in the Indian electric car market. The brand currently has only two EVs in its lineup – Nexon EV and Tigor EV – with the former being the most popular electric car in the country. More EVs are in the pipeline; Tata Altroz EV is expected to launch sometime during this year, expected to be followed by Punch EV.
Shailesh Chandra, President, PVBU – Tata Motors, had this to say, “EV penetration touched 5.6 per cent of PV Sales during the quarter versus 1.8 per cent in the same period last financial year. EV sales also touched 10,000 units in 9MFY22 and crossed the 2,000 monthly sales landmark for the first time in December 2021.”
“The ever-increasing demand for Nexon EV and Tigor EV, as well as the progressive revival of the EV fleet segment, were instrumental in driving this steep growth,” he continued. Also, Tata is expected to launch an updated version of the Nexon EV soon, which will have a bigger battery option, and consequently, more driving range.
Tata Motors has aggressive plans for its EV business in the Indian market, and the manufacturer has established a separate vertical for its electric vehicles – Tata Passenger Electric Mobility. The carmaker recently raised a capital of Rs. 7,500 crore for said EV vertical.