Tata Motors expects to over achieve 2020 sales target (IANS Special)

By Rohit Vaid New Delhi, Nov 13 : Backed by improved range of affordable products, automobile major Tata Motors expects its passenger vehicle business to over achieve the 2020 sales target.
Accordingly, the company had to increase production to meet the surge in demand.
In a conversation with IANS, President of Tata Motors’ passenger vehicles business unit, Shailesh Chandra, said: “Post Unlock 1.0 in May, our volumes have been growing month-on-month. We had recovered fully at the end of H1.” “The revenue from passenger vehicle sales was up by 86.3 per cent y-o-y and the business achieved EBITDA breakeven on the back of significantly improved range of products, volume scale up and strong savings programme to reduce indirect costs.
“Additionally, this growing performance was sustained in October as well when we posted a healthy growth of 22 per cent (YTD) vis-a-vis last year (April-October),” Chandra said.
Last month, the company witnessed a 79 per cent YoY growth to 23,617 units from 13,169 units sold in October 2019.