Tata Motor has released the financial results and standings for the Q3 FY2022, ending on December 31, 2021. The company’s Q3 revenue stands at Rs. 21,000 Crore, and its net retails have seen a positive growth of 33 per cent in comparison to the third quarter of the previous year. Tata Motors retailed over 2 lakh units in Q3 FY2022.
Furthermore, the indigenous brand has invested around 900 Crore in the development of products & technologies. The company’s PV business posted great turnarounds with a double-digit market share along with the highest-ever sales figures in any calendar year since inception. Also, in the third quarter of FY2022, Tata Motor recorded a new peak for EV sales with 5,592 units sold. The company’s EV line-up includes the Tata Nexon EV and the recently-launched Tata Tigor EV.
“The auto industry continued to witness rising demand in most segments even as the supply of semiconductors remained restricted resulting in adverse impact on production. At Tata Motors, our agility in both planning and execution, helped optimize production to deliver another strong quarter with accelerated sales. We continue to increase market share in every segment of commercial vehicles and set several new milestones in passenger vehicles with decade high sales for both the quarter as well as the calendar year 2021. We also recorded the highest ever EV sales during the quarter and sold 10,000 EVs in 9MFY22, crossing new milestones. At the time of publishing results, we have operationalized two subsidiaries- Tata Motors Passenger Vehicles Ltd. focusing on passenger vehicles powered by IC engines and Tata Passenger Electric Mobility Limited to accelerate the development of the passenger EV business and its enabling ecosystem. Looking ahead, we expect the demand for commercial, passenger and electric vehicles to sustain even as concerns related to supply of semiconductors, high input costs and rising instances of covid keep the overall situation fluid. We will remain agile, address supply bottlenecks proactively, drive our savings program harder, take prudent pricing actions while continuing to make good progress in our future-fit initiatives of transforming customer experience digitally and strengthening our lead in sustainable mobility.”
Girish Wagh, Executive Director Tata Motors Ltd.
For the JLR group, figures are released as well. Jaguar Land Rover’s Q3 FY22 revenue is up by 22 per cent compared to Q2 FY22, now standing at 4.7 billion Euros. The brand has posted a new record for its order book, with a total of 1,55,000 orders.
“Whilst semiconductor supplies have continued to constrain sales this quarter, we continue to see very strong demand for our products underlining the desirability of our vehicles. The global order book is at record levels and has grown an incredible 30,000 units for the New Range Rover before deliveries even start this Quarter. We continue to execute our Reimagine strategy to realise the full potential of the business and create the next generation of the most desirable luxury vehicles for the most discerning of customers.”
Thierry Bolloré, Jaguar Land Rover’s Chief Executive Officer
However, a downfall of 33 per cent in the sales for Q3 FY2022 has been observed. Nevertheless, medium-term and long-term financial targets for JLR under its Reimagine strategy and Refocus transformation programme will remain unchanged. The brand is projecting increment in EBIT margins to 10 per cent or even higher by FY26.
