Tata Motors: In comparison to 228,169 units in Q3 FY 2022–2023 and 234,981 vehicles in Q3 FY 2023–2024, Tata Motors reported its domestic and international sales figures in an exchange filing on Monday. Read on to know the details.
Tata Motors records amazing sales of 2,34,981 units in Q3 2024
In comparison with December 2022, Tata Motors’ overall domestic sales for the month increased by 4% to 76,138 vehicles.
43,470 passenger vehicles (PVs) total, including electric vehicles (EVs), were sold domestically. Furthermore, sales of PV International Business (PV IB) decreased by 41% to 205 units during the month. Tata Motors saw an 8 percent increase in sales of passenger vehicles in December 2023 when combining data for both domestic and international businesses. A total of 43,675 units were sold during that month. Interestingly, the Electric Vehicle (EV) segment—which includes both domestic and international businesses—saw growth, with 5,006 units sold in December 2023, a 29 percent rise from the same month the previous year.
HCV Trucks reported selling 11,199 units in the Commercial Vehicles category in December 2023, a 10% increase over the previous year. Comparably, passenger carriers showed a 14% increase in sales over the same period, selling 3,060 units, while ILMCV trucks saw an 8% increase, selling 5,675 units. By comparison, sales of SCV freight and pickup fell by 14% to 12,734 units.
Tata Motors announced a 1 percent increase in sales of commercial vehicles in December 2023, accounting for both domestic (CV Domestic) and international business (CV IB) sales.
Domestic MH&ICV sales in December 2023 were 16,851 units as opposed to 15,244 units in December 2022; in Q3 FY24, they were 44,365 units as compared to 40,391 units in Q3 FY23.
What did the company say?
Mr. Girish Wagh, Executive Director, Tata Motors Ltd., said, “Tata Motors Commercial Vehicles registered domestic sales of 91,735 in Q3 FY24, marginally higher than Q3 FY23 sales of 91,704. The M&HCV segment grew ~14% vs Q3FY23, with demand coming from government’s infrastructure initiatives, expansion in core industries, and sustained growth in e-commerce. The
Passenger Commercial Vehicles segment continued to register consistent post pandemic recovery, with sales rising ~19% vs Q3 FY23. The YoY growth trend witnessed during past quarters paused in Q3 FY24 on account of the higher base effect, impact of elections held across 5 states, and the post festive seasonal slowdown in rural consumption. Going forward, we expect demand to improve in Q4FY24 across most segments of the CV industry due to the Government’s continuing thrust on infrastructure development, the promising growth outlook of the economy and our demand-pull initiatives.”
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