Nexon, Punch and More Help Tata Motors Register 4% Sales Growth in March 2023

During March this year, Tata Motors managed to sell nearly 44,225 units of its cars, which included domestic sales as well as exports. The company has registered a growth of 4 per cent, when compared to its March 2022 sales. Whereas it sold 42,466 vehicles at the same time last year. All four SUVs - the Nexon, the Punch, the Harrier, and the Safari - are the major contributors to the company's sales growth. It is important to note that the sales report is also inclusive of electric vehicles. Speaking of its overall sales in Q4 FY2023, the Indian carmaker reported that its total sales have risen by 3 percent to 2,51,822 units. During Q4 FY2022, the company delivered 2,43,459 cars to its customers in the domestic as well as international market.

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Commenting on the company's sales performance, Mr. Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd., said, "Tata Motors scaled a new sales peak by posting its highest ever annual domestic sales of 5,38,640 units, achieving a robust 46% sales growth over FY22 and registering its third successive year of industry-beating growth. All four SUVs – Nexon, Punch, Harrier, and Safari, recorded their highest-ever annual sales, contributing a substantial 66% of the total volume. Being the leader in the fast-growing EV segment, we continued to accelerate both its adoption as well as the development of its enabling ecosystem".

Furthermore, Chandra said, "Tata Motors crossed the significant landmark of 50,000 EV sales in FY23, its highest ever, to post a significant growth of 154% over FY22. In addition, we also recorded the highest-ever quarterly and monthly EV sales of 15,960 (Q4FY23) and 6,509 (Mar’23) respectively. EV penetration in our portfolio continued to increase from ~7% (Q1FY23) to ~12% (Q4FY23) of our total sales." 

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In the domestic market, passenger vehicle sales stood at 89,351 units for March 2023, up from 86,718 units in the corresponding month last year. "Looking ahead, we expect the demand for personal vehicles to remain robust with the trend of electrification further strengthening as more options are made available to customers plus support from a rapidly growing and improving ecosystem. However, the growth rate of the passenger vehicle industry may moderate due to a strong base effect as well as macro factors including hardening interest rates, rising inflation, and the cost impact from progressive regulatory norms", added Chandra. 

On the other hand, Tata Motors' commercial vehicle sales in India recorded an increase of 2 per cent over 44,425 units in March 2022. For March this year, it posted sales of 45,307 units.