Tata Motors expects growth momentum to continue in 2022

Tata Motors anticipates its growth momentum to continue this year as well as anticipates supply-side problems to enhance, assisting it to launch more units to provide for the increased demand, according to a top firm official. The Mumbai-based automaker, which sells models such as Nexon, Punch and Harrier, witnessed its total passenger vehicle dispatches to dealerships increase by 44% to 99,002 units in the third quarter (October-December 2021) as against 68,806 units in the same term of the previous year. Last month, it registered a 50% increase in total passenger vehicle sales to 35,299 units as against 23,545 units in December 2020. Tata Motors Passenger Vehicles Managing Director Shailesh Chandra told the media that there have been supply-side problems that have not permitted them to completely unleash the demand potential that they have for their range of cars. He said that the firm is coming with more options in the mass segment to grow its customer base. The firm's debut in the entry-level SUV segment with Punch in 2021 is one fine example of bringing models in increasing segments. They will keep introducing new models in the new development areas. The company has launched CNG trims, SUVs and continues to drive electric vehicles (EV). Every year there will be various kinds of exciting versions of their current models or some sort of exciting intervention which links with new-age customers. It is the set of things that they will continue to do. Besides, the firm would continue to work in terms of mitigating the risks, which are emerging from the semiconductor crisis, and additionally focus on price reduction efforts inside the organisation given the influence the commodity pricing has had on the overall financials of the firm. Image Source Also read: Tata Motors to increase prices of its commercial vehicles Also read: Tata Tech expects 35% biz growth with increasing EV demand in India