Tata Motors' Q1FY21 total sales at just over 25K units

Mumbai, July 1 Automobile major Tata Motors on Wednesday reported a downfall in total sales for Q1FY21.

Accordingly, the overall sales including domestic off-take and exports declined to 25,047 vehicles, compared to 1,37,545 units sold during Q1FY20.

The company's total domestic sales for Q1FY21 plunged by 82 per cent to 23,845 units from the 1,31,879 units sold during the corresponding period of the previous fiscal.

"As of June 30, 2020, the Company has cash and cash equivalents of more than Rs 5,000 crore and undrawn committed facilities of Rs 1,500 crore," the company said in a statement.

Commenting on the Q1 sales, Girish Wagh, President, Commercial Vehicles Business Unit, Tata Motors, said: "There are early recovery signs in a few sectors, and we look forward to a gradual pickup in demand on the back of overall economic recovery, while we continue to address the challenges of intermittent demand and supply disruptions from Covid-19."

( With inputs from IANS )