Thursday, November 10, 2022
By Kamal Swami
Tata Motors Ready To Set Record With 3,00,000 Booking Orders
Domestic carmaker Tata Motors has surprisingly set a new record for receiving new vehicle booking orders. According to recent reports, the carmaker received an order of 3,00,000 bookings, including 2,04,000 units for Jaguar Land Rover and 1,00,000 of other passenger vehicles manufactured under its flagship. With such a big order, the revenue of the company dynamically increased to Rs 90,000 crore or $11 billion during the end of the third quarter in September 2022.
With improvement in the supply of semiconductor chips and regularity in receiving new orders, the homegrown carmaker is ready to set a new record in the passenger vehicles segment. Even its sister concern Jaguar Land Rover is also on the path of recovery and recording increased sales. According to sales statistics revealed by the company during the months from July to September 2022, it sold 1,42,000 units of its passenger vehicles and recorded a revenue of Rs 12,500 crores.
Commenting on this, P B Balaji, CFO, of Tata Motors, said, with increasing demand for passenger vehicles the demand for the Jaguar Land Rover brand is also encouraging. There is an increase in demand for three top models including the Land Rover Defender, Range Rover and Range Rover Sport. In the words of Balaji, “While the global markets are volatile, we are still witnessing a pickup in orderbook and we see no major concern. For Tata Motors’ PV business, the order book is 100,000 units. We will continue to deliver market-beating growth. The outlook remains positive, with supplies improving, we aim to deliver positive free cash flow for FY2023”.
In between, the company is also going to invest 2.5 billion points (Rs 23,500 crore) for expanding the production facilities for JLR and Rs 6,000 crore for the development of commercial and passenger vehicles. With this, the company is also increasing its production activities. After the completion of Ford India’s production unit in Sanand, the company will produce additional 25,000 units every month.
