Tata Motors confident of sales in the current financial year to be higher than the previous, expressed hope of increasing demand

Tata Motors believes that in the current financial year 2022-23, the domestic passenger vehicle industry will cross the 2019-20 figure in terms of numbers.

Tata Motors believes that in the current financial year 2022-23, the domestic passenger vehicle industry will cross the 2019-20 figure in terms of numbers. In the financial year 2019-20, the sales of passenger vehicles were at a record level of 34 lakh units.

Tata Motors (Tata Motors) believes that in the current fiscal year 2022-23 domestic passenger vehicle (Passenger Vehicle) The industry will exceed the figure of 2019-20 in terms of numbers. In the financial year 2019-20, the sales of passenger vehicles were at a record level of 34 lakh units. Tata Motors Managing Director – Passenger Vehicles and Electric Vehicles Shailesh Chandra said in an analyst call that demand (Demand) They are optimistic about the current financial year by staying strong and reducing the constraints related to Kovid-19. He said that he expects the domestic auto industry to cross the 2019-20 figure this year. The company expects a better business environment. However, Chip’s woes (Chip Crisis) The challenge lies in meeting the increased demand.

The auto company believes that a jump in commodity prices may affect its profits in the current financial year. On the prospects of the current financial year, Chandra said that he has seen the estimates of various agencies. These agencies have expressed hope that the domestic passenger vehicle industry will cross the record of 34 lakh units in 2019-20. He said that the reason for this expectation is that in the last two quarters of the last financial year, the demand of the industry was affected due to problems related to Kovid-19. The situation is much better now in the current financial year.

Semiconductor’s situation expected to improve

Chandra said that they are hopeful that this year there will be no hindrance from nature and the situation of semiconductor will also improve. Based on this they are expecting higher sales. On the current situation, he said that the supply of the chip is uncertain. Because of this Tata Motors is not able to utilize its full demand potential. He said that as far as Tata Motors is concerned, some electronic components are a challenge. But they are trying to deal with this situation. He said that they are looking for other options for this, are in talks with semiconductor suppliers.

Chandra informed that the company is also taking steps to reduce the cost structure in the organisation. He said that the demand for electric vehicles and CNG models is increasing rapidly in the domestic market due to rising fuel cost. He said that consumers are showing great interest in these two powertrains. The main reason for this is the high price of petrol.

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