End of 2020 Actually Turned Out Progressing for Tata and Bajaj
In December 2020, Tata experienced 89 percent of sales increment compared to December 2019 while Bajaj has proved to be the most valuable two-wheeler brand in the world.
It is known that the COVID-19 pandemic has influenced the whole world in every aspect of life. The automobile industry is not an exception. The beginning of 2020 was quite a struggle for the automobile industry with the instability of the future, surprisingly enough as it came to an end they experienced the turning tables.
Compared to the end of 2019, 2020 ended with Christmas miracles as carmakers like Maruti Suzuki, Hyundai, MG, and Toyota had encountered growth in their sales. Tata Motors holds 84 percent of sale growth with 23,545 units being sold in December 2020 contrasted with 12,785 units in December 2019. Following the growth sequence, MG reported a 77 percent sales growth in 2020 as compared to 2019.
Shailesh Chandra, President, Passenger Vehicles Business Unit, Tata Motors, said, “In Q3FY21, PV business posted a growth of 89% as compared to Q3FY20- highest ever sales in last 33 quarters. For Dec’20, wholesale were higher by 84%, compared to Dec’19. Retail sales was 18% higher than wholesale for the month and pipeline inventory remains thin. We are continuing to debottleneck the supply chain and ramp up our output to meet the increased demand while addressing the availability of electronic components. With the growing popularity of Nexon EV, the company also posted an impressive sale in EVs with highest ever quarter wholesale of 1,253 units in Q3FY21 and 418 units in Dec’20.”
Meanwhile, Bajaj farewells the year 2020 with a bang, proving to be the first two-wheeler company in the world to cross a market capitalization of ₹1 lakh crore, holding a tag of most valuable two-wheeler brand. Bajaj initiates its journey in India 75 years ago and their brands like Pulsar, Boxer, Platina, and RE have gained popularity among 70 countries. Additionally, they have been successful to expand the footprints over Thailand last year, and a proposed enter to Brazil.
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