Tata Motors’ saw a surge in its share price on the first day of this year as much as 4% after the company achieved the tag ‘second-largest car seller’ in India. The company has surpassed Hyundai, which was the second-largest auto seller in India in terms of car sales.
The carmaker has managed to sell a high number of cars even after facing a fall in production due to the global semiconductors crisis. The good demand for the latest Tata
Punch has also helped the auto company to increase its overall sales.
Tata Motors’ booming electric vehicle business is also adding to the excitement around electric cars. It recorded the sale of 5,592 units of electric vehicles in the third quarter of the current financial year.
It s believed that the rising sales of electric vehicles may not last long as the company is cautious about the semiconductor shortage, which is continuing along with the rising covid cases. The executive director at Tata Motors, Girish Wagh has said that they expect to remain fluid as the semiconductor shortage continues as this shortage continues along with the rise in Covid-19 cases.