Total passenger vehicles sales (including EV) in September 2023 was 45,317 units from 47,864 units, a decline of 5 percent. However, EV sales (IB+Domestic) grew 57 percent with 6,050 units last month as compared to 3,864 units in September 2022.
Tata Motors’ Passenger Vehicle Sales:
| Category | Sep’23 | Sep’22 | %Change | Q2 FY24 | Q2FY23 | % Change |
|---|---|---|---|---|---|---|
| Total PV Domestic (includes EV) | 44,809 | 47,654 | -6% | 1,37,950 | 1,42,325 | -2.7% |
| PV IB | 508 | 210 | 142% | 989 | 526 | 88% |
| Total PV (includes EV) | 45,317 | 47,864 | -5% | 1,38,939 | 1,42,851 | -3% |
| EV (IB+Domestic) | 6,050 | 3,864 | 57% | 18,615 | 12,041 | 55% |
“Passenger vehicle sales remained strong in Q2 FY24 driven by new launches and pre-festive offtakes. Tata Motors posted quarterly sales of 1,38,939 cars and SUVs in Q2 FY24, ~2.7% below our highest ever quarter, Q2 FY23. Our EV business continues its strong momentum and has posted growth of about 55% year-on-year,” says Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles.
Further, he added,”In Q2 FY24, we extended our innovative twin-cylinder CNG offering to Tiago, Tigor and Punch, which have been received well by the market. This quarter also saw the launch of the new generation Nexon and Nexon.ev, which have received an overwhelming market response.”
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Tata Motors’ Commercial Vehicles Sales:
| Category | Sep’23 | Sep’22 | % Change | Q2 FY24 | Q2 FY23 | % Change |
|---|---|---|---|---|---|---|
| HCV Trucks | 12,867 | 8,889 | 45% | 30,369 | 24,227 | 25% |
| ILMCV Trucks | 6,377 | 6,238 | 2% | 16,483 | 16,730 | -1% |
| Passenger Carriers | 3,344 | 2,287 | 46% | 10,622 | 8,040 | 32% |
| SCV cargo and pickup | 14,626 | 15,565 | -6% | 41,704 | 44,768 | -7% |
| Total CV Domestic | 37,214 | 32,979 | 13% | 99,178 | 93,765 | 6% |
| CV IB | 1,850 | 1,911 | -3% | 4,907 | 6,771 | -28% |
| Total CV | 39,064 | 34,890 | 12% | 1,04,085 | 1,00,536 | 4% |
Domestic sales of MH&ICV in Sep 2023, was 18,577 units as compared to 14,062 units in Sep 2022.
Total sales for MH&ICV stood at 19,199 units last month from 4,736 units in the same period previous year; while in Q2 FY24 it stood at 46,845 units, vs 40,556 units in Q2 FY23.
“Tata Motors Commercial Vehicles domestic sales stood at 99,178 in Q2 FY24, 6% higher than Q2 FY23. Our upgraded BS6 phase II product range continues to see good traction as our customers experience benefits of lower total cost of ownership, efficient powertrains, and enhanced value-additions. M&HCV segment saw a strong growth of 24% over Q2 of FY23, fuelled by continued government infrastructure push, robust replacement demand, and growth in core sectors, along with sustained growth from the e-commerce sector,” says Girish Wagh, Executive Director, Tata Motors.