Tata Motors Limited recently released its sales for the month of September 2022. Accounting for both domestic and international markets, for Q2FY23, the company’s sales stood at 2,43,387 vehicles. This was up from 1,71,270 units during Q2FY22. Total Domestic Sales stood at 80,633 units for September 2022.
Sales Analysis
Commercial Vehicle Segment
The commercial vehicles industry witnessed a significant demand in Q2FY23. Tata Motors CV business posted a 20 percent growth in domestic sales over Q2FY22. The total sales for this quarter stood at 93,675 units. This growth was led by the high volume of sales of MHCVs and a robust recovery in passenger carriers’ demand. With the improving fleet utilization, pick up in road construction projects and increase in cement consumption, the demand recovery for MHCVs is also on the rise.
CV exports did shrink sharply by 22 percent. This is due to the economic situation in Sri Lanka and Nepal. Although Tata Motors mentioned that the growth improved sequentially by almost 30 percent. With recent exciting launches in MHCV and ILCV segments, Tata Motors is expecting more sales.
Passenger Vehicle Segment
The PV industry too witnessed strong demand during the Q2FY23 period. With the onset of the festive season and new launches, Tata Motors scaled new highs in passenger vehicles. The sales figure of 142,325 units during the quarter, recorded a growth of 70 percent when compared to Q2FY22. Tata Motors also attained its highest-ever monthly sales of 47,654 for the given period. This translates to an 85 percent growth when compared to September 21. Led by record-setting sales contributed by Nexon and Punch, SUV sales continue to reach new highs.
In electric vehicles, Tata Motors once again posted record-breaking sales. The figure stood at 11,522 units in Q2FY23, thus registering an emphatic growth of 326 percent versus Q2 FY22. With the recent launch of the Tiago EV, Tata is paving the path for the mass adoption of EVs across the country.
Also Read: Bookings for Tata Tiago EV open from 10th October, 2022.
