Tata Motors Ltd. experienced a 2% increase in domestic vehicle sales in September, reaching a total of 82,023 units. This is compared to the same month last year. The automaker reported these sales figures in a regulatory filing.
However, domestic passenger car sales, which include electric vehicles, saw a 6% decline last month, dropping from 47,654 units in September 2022 to 44,809 units.
On the other hand, sales of electric vehicles, including those sold in foreign markets, experienced a significant 57% increase. The numbers rose from 3,864 units to 6,050 units in the past month.
The Managing Director of Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd, Shailesh Chandra, commented on the sales performance. According to him, passenger vehicle sales remained strong in Q2 FY24 as a result of new launches and pre-festive offtakes. He mentioned that the company recorded quarterly sales of 138,939 cars and SUVs in Q2 FY24, which is approximately 2.7% below their highest-ever quarter, Q2 FY23.
Chandra also highlighted the strong momentum of Tata Motors’ EV business, which has shown a growth rate of about 55% on a yearly basis. He further mentioned the recent addition of the cutting-edge twin-cylinder CNG offering to models like Tiago, Tigor, and Punch in Q2 FY24, and the positive response from the market.
In terms of overall sales, Tata Motors reported a 13% increase in commercial vehicle sales, with 39,064 units sold in September 2023 compared to 34,890 units in September 2022. Executive Director Girish Wagh shared that domestic commercial vehicle sales for Tata Motors saw a 6% increase in Q2FY24, totaling 99,178 units, up from Q2FY23.
Wagh emphasized the strong growth in the medium and heavy commercial vehicles segment, which experienced a 24% increase over Q2 FY23. He attributed this growth to the government’s continued infrastructure push, robust replacement demand, growth in core sectors, and sustained growth in the e-commerce sector.
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