Tag - Tata Motors

Tata Motors experienced significant demand for its electric vehicle (EV) lineup, achieving a remarkable 57 per cent year-on-year (YoY) growth in September 2023. However, the overall sales performance in September 2023 showed a 3 per cent decline in passenger vehicle sales, while the commercial vehicle segment witnessed a 4 per cent increase. The total domestic sales, including passenger and commercial vehicles, reached 82,023 units in September 2023, representing a 2 per cent YoY growth compared to 80,633 units in September 2022. In August 2023, Tata Motors' domestic sales were 76,261 units. During the second quarter of FY23, there was a relatively flat sales performance, with 2,36,090 units sold, only marginally increasing to 2,37,128 units in the second quarter of FY24. Detailed Sales Figure Tata Motors' passenger vehicle (PV) sales in September 2023 amounted to 44,809 units in the domestic market. This figure includes sales of their EV lineup, which currently comprises the Tigor EV, Tiago EV, and Nexon EV, as well as the anticipation of four new SUVs to be introduced early next year. The PV domestic sales registered a 6 per cent YoY decline compared to 47,654 units sold in September 2022. In Q2 FY24, PV sales declined by 2.7 per cent, totalling 1,37,950 units, down from 1,42,325 units in Q2 FY23. On the other hand, exports improved significantly, with a 142 per cent YoY increase to 508 units in September 2023, compared to 210 units in September 2022. Q2 exports also saw an 88 per cent increase in the FY24 period, totalling 989 units, up from 526 units in the same period the previous year. Overall, PV sales in September 2023 reached 45,317 units, marking a 5 per cent decrease from 47,864 units in September 2022, and Q2 FY24 sales dropped by 3 per cent to 1,38,939 units from 1,42,851 units in Q2 FY23. Notably, EV sales performed significantly better, with 6,050 units sold in the past month, a 57 per cent increase over the 3,864 units sold in September 2023, and a 55 per cent growth in Q2 FY24, with 18,615 units sold, up from 12,041 units in Q2 FY23. Commercial Vehicles Sales Figure Regarding commercial vehicle (CV) sales, Tata Motors reported a 12 per cent growth in total CVs, reaching 39,064 units in September 2023, up from 34,890 units in September 2022. In Q2 FY24, CV sales increased by 4 per cent to 1,04,085 units from 1,00,536 in Q2 FY23. Demand for the company's heavy commercial vehicles (HCV trucks) also increased, with 12,867 units sold in September 2023, up from 8,889 units in September 2022. This marked a 25 per cent growth in Q2 FY24, with 30,369 units sold compared to 24,227 units in the same period of FY23. Intermediate and light commercial vehicle (ILMCV) sales showed a marginal 2 per cent YoY growth, reaching 6,377 units in September 2023, up from 6,238 units in September 2022. Passenger carriers experienced a 46 per cent YoY growth, with 3,344 units sold in September 2023, compared to 2,287 units in September 2022. Q2 FY24 sales also grew by 32 per cent to 10,622 units from 8,040 units in the same period the previous year. Also Read: Tata Motors clocked 80,633 unit sales in July 2023

Tag - Tata Motors

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