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Tata Motors ties up with HDFC Bank for financing of passenger vehicles

  • calendar 17-Oct-2020
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Tata Motors ties up with HDFC Bank for financing of passenger vehicles

Tata Motors announced on Thursday that its total domestic sales increased 37% at 44,444 units in September 2020, as against 32,376 units in the same month last year. In the passenger vehicle segment, the automaker recorded 21,199 units last month as against 8,097 units in September 2019, marking a growth of 162% President, Passenger Vehicles Business Unit, Tata Motors said, “PV industry witnessed recovery in Q2FY21, supported by festive sales in some regions and continued benefit from pent-up demand across the country.” He added, “In September 2020, wholesales were higher than retail ahead of the festive season. Despite challenges owing to rising Covid-19 cases across the country, supply-side has been progressively improving. Tata Motors PV business posted a wholesale of 54,794 units in Q2FY21, which is 112% growth as compared to Q2FY20. For September 2020, wholesale of 21,199 units was 163% higher than Sep 2019. This steep growth is attributed to increased demand for all our products in the “New Forever” range. The company also sold 924 EVs in Q2FY21, with an encouraging response received for Nexon EV.”

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