Tata Motors sales up 59% YoY in August, beat Street expectations

Auto major Tata Motors on Wednesday posted total sales of 57,995 units for August, beating Street expectations. Sales last month were up 58.9 percent on a year-on-year basis.

Tata Motors shares gained nearly 2 percent after the release of the sales report.

Analysts in a CNBC-TV18 poll had expected the auto maker to post sales of 52,470 units in August 2021.

The company said it aims to meet robust demand despite supply-related challenges, and its order book continues to be strong.

The Tata group carmaker's total sales had stood at 36,505 units in the corresponding period a year ago.

In a regulatory filing, Tata Motors reported commercial vehicle sales of 29,781 units for August 2021, up 66 percent on a year-on-year basis. Its passenger vehicle sales increased 51 percent to 28,018 units.

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Tata Motors said its electric vehicle sales crossed the threshold of 1,000 units.

Tata Motors shares traded 1.10 percent higher at Rs 290.50 apiece on BSE at 1:40 pm, having risen as much as 1.79 percent earlier.

The stock outperformed the headline Sensex index, which retreated from an all-time high registered on the same day to trade 0.14 lower.

The Tata Motors DVR stock was up 0.51 percent at Rs 137.15 apiece at the time.