Amidst subdued demand environment, first quarter was marked by successful transition to BS-VI across the range of commercial vehicles," Tata Motors President, Commercial Vehicles Business Unit Girish Wagh said.
There are early recovery signs in a few sectors, and the company looks forward to a gradual pickup in demand on the back of overall economic recovery while continuing to address the challenges of intermittent demand and supply disruptions from Covid-19, he added.
The company's commercial vehicle sales during the quarter declined by 90 per cent to 10,476 units as compared with 1,00,357 units in same period of 2019-20.
Passenger vehicle sales during the period under review declined by 61 per cent to 14,571 units as against 36,945 units in the corresponding period last year.
"The Covid-19 lockdown deeply impacted PV industry sales in the first quarter of 2021 fiscal. After partial sales recovery in May pent up demand supported a steeper recovery of retail in June," Shailesh Chandra, President, Passenger Vehicles Business Unit, Tata Motors said.
Retail sales were stronger than wholesales by 27 per cent, driven by the company's focus on the former while ensuring optimum inventory levels in the network, he added.
As of June 30, 2020, the auto major had cash and cash equivalents of more than Rs 5,000 crore and undrawn committed facilities of Rs 1,500 crore, Tata Motors said.
The Mumbai-based company has decided to provide only quarterly sales data from April this year.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.