Shares of Tata Motors climbed 2 per cent in Monday's trade after the Tata Group firm reported a 14 per cent year-on-year (YoY) growth in total auto sales in December quarter. For the quarter, domestic sales rose 10 per cent to 72,997 units from 66,307 units in the year-ago month, up 10 per cent. For the December quarter, sales were up 17.7 per cent YoY at 2,23,001 units against 1,89,531 units YoY.
The combined sales (domestic and international markets) came in at 2,28,169 units for the December quarter, up 14.29 per cent over 1,99,634 units in the year-ago quarter.
Wagh however noted that CV exports remained subdued due to the prevailing economic situation in most overseas markets.
Tata Motors PV posted the highest ever quarterly and monthly retails in Q3FY23 and December, respectively.
"Overall, we expect the PV industry to continue witnessing robust demand in the next quarter. We intend to remain vigilant and closely monitor any possible impact on the supply side due to rising Covid case globally," Chandra said.
Copyright©2023 Living Media India Limited. For reprint rights: Syndications Today