Tata Motors CV vertical exhibits epic hikes in revenue in Q2, 2022
Tata Motors Group posted impressive sales figures in Q2, 2022. The company’s net revenue grew by 14.7% during the period. All verticals combined, Tata Motors raised a consolidated revenue of Rs 61,379 crores in Q2. Tata recorded a remarkable 77% hike in domestic sales while Jaguar Land Rover retails dropped by 18%.
Jaguar Land Rover reported wholesales of 64,032 vehicles in Q2. The drop in numbers is allegedly due to the semiconductor shortage and supply chain limitations. Retail sales including the JV in China amounted to a total of 92,710 units.
The all new Land Rover Defender exhibited great market traction even when most of the other nameplates in the JLR lineup stood back in volumes. 16,725 Defenders were sold during the period (18% of the total numbers) The electrified models( PHEVs, BEV, and MHEVs combined) grew decently as well. Globally JLR products are in strong demand and the carmaker is working on reimagining their future portfolio. It is working towards attaining a gradual recovery in sales starting in H2, FY22 and aims to raise the EBIT margins to 10% by FY26.
The domestic sales of the forever range of cars and SUVs from Tata Motors grew by 59%, as over 85,200 units were sold. The CV vertical exhibited greater growth in sales as 77,300+ units found buyers, translating to a whopping 102% growth. Tata Motors has recently been enjoying strong market shares in the CV space, which grew further in Q2, FY22. The growth has been the maximum in the MHCV space. Tata Motors had recently rolled out 21 different trucks and buses in a go. These are expected to take the numbers higher, in the days ahead.
The EV vertical exhibited 3-fold growth in sales. A highest quarterly figure of 2,704 units was recorded in Q2, FY22, amidst the prevailing supply chain issues and semiconductor shortage. Semiconductor shortage and commodity inflation are also causing serious trouble to the CV business as well.