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Business News/ Companies / Tata Motors hits the accelerator; reaches 50 lakh passenger vehicles milestone
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Tata Motors hits the accelerator; reaches 50 lakh passenger vehicles milestone

To celebrate the five million production milestone, Tata Motors will roll out a celebratory campaign for customers and employees across the country.

For representation purposes.Premium
For representation purposes.

Automobile giant Tata Motors announced on Friday that the company had achieved a significant milestone by producing over 50 lakh passenger vehicles in total.

In 2004, Tata Motors reached the milestone of producing 10 lakh passenger vehicles, followed by achieving the 20 lakh mark in 2010. Five years later, in 2015, the company crossed the production of 30 lakh units, and in 2020, it achieved the milestone of producing 40 lakh units.

"This journey, from each million to the next, has been one replete with its fair share of ups and downs," Tata Motors Passenger Vehicles Managing Director Shailesh Chandra said in a statement.

The company noted that it was able to stride ahead from 40 lakh cars to 50 lakh units within three years, despite COVID-19 and semiconductor shortage crisis which plagued the global automotive industry. To celebrate the five million production milestone, Tata Motors will roll out a celebratory campaign for customers and employees across the country.

The company said it will have month-long celebrations across its manufacturing locations and regional offices. It also announced on Wednesday a three per cent YoY increase in total wholesale sales, reaching 79,705 units In February.

According to a statement by Tata Motors, the company's total vehicle sales in February 2023 increased by three per cent to 79,705 units compared to 77,733 units in the same period last year. The domestic vehicle sales also saw a growth of six per cent with 78,006 units sold last month, compared to 73,875 units in February 2022.

As per the automaker, the company's domestic sales of passenger vehicles, including electric vehicles, amounted to 43,140 units in February, compared to 40,181 units in the same period last year.

Moreover, the company added that it witnessed a decline of three per cent in total domestic sales of commercial vehicles, with sales dropping from 37,552 units in February 2022 to 36,565 units in the same month this year.

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Published: 03 Mar 2023, 12:50 PM IST
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