Tata Motors Records 14% YoY Domestic PV Sales Growth in March, Over 50,000 Units Sold
Of 90,822 units sold in the domestic market, Tata Motors' total passenger vehicle sales were 50,110 units (including electric vehicles) in March 2024, constituting a 14 per cent increase over 44,044 units delivered in March 2023.
By Kanika Sachdeva
Homegrown automaker Tata Motors has reported total domestic sales of 90,822 units in March 2024, up 2 per cent year-over-year (YoY). In comparison, Tata sold 89,351 units in March 2023. Quarter-wise, the firm's overall sales (domestic and international market) for Q4 FY2023-24 stood at 2,65,090 units against 2,51,822 units during Q4 FY2022-23.
Of 90,822 units sold in the domestic market, Tata's total passenger vehicle sales were 50,110 units (including electric vehicles) in March 2024, constituting a 14 per cent increase over 44,044 units delivered in March 2023. In the fourth quarter of the last financial year, the Indian automaker recorded its highest-ever wholesales of 1,55,651 units, a 15 per cent YoY increase over the last quarter of FY2022-23 (1,35,654 units). For Tata Motors, FY2023-24 marks the third consecutive year of highest-ever sales. In the last financial year, the company despatched a total of 5,73,495 units, which is an increase of 6 per cent over FY2022-23's 5,41,087 units.
"Although no new nameplate was launched, our unique multi-powertrain strategy enabled us to deliver healthy growth with vehicles powered by CNG and EV contributing nearly 29 per cent of overall sales. In CNG, our portfolio of four products with innovative twin-cylinder technology, grew over 120 per cent vs FY23. The preference for Tata.ev products across both personal and fleet segments continued to grow and further strengthened our leadership in this segment with sales of 73,833 units and registering a strong 48 per cent growth vs FY23," said Mr Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd.
Tata Motors' EV Sales
Speaking of EVs, a total of 20,640 Tata. ev products were sold during Q4 FY2023-24, which represented a growth of 29 per cent vis-a-vis Q4 FY2022-23. The popularity of the Tiago EV and the Nexon EV, supported by the launch of the new Punch EV, powered EV sales to 20,640 units from 15,960 units in Q4 FY2022-23.
In other news, Tata Motors recently rejigged the variant list of the internal combustion engine-powered Nexon SUV. It added five new automatic variants to the lineup. As a result, the price of the Nexon Petrol AMT starts at Rs 10 lakh for the Smart+ trim, which was previously available only with a petrol-5MT powertrain. Meanwhile, the Nexon Diesel AMT ranges from Rs 11.80 lakh for the Pure trim to Rs 15.50 lakh for the Fearless+ S. All prices are ex-showroom. However, the Nexon Smart+ S remains unchanged.
Tata Motors' CV Sales
In the CV (commercial vehicle) segment, the overall sales (domestic + exports) were 42,262 units in March 2024, whereas the company despatched 46,823 units of commercial vehicles in March 2023, a degrowth of 10 per cent.
"In Q4 FY24, domestic sales at 1,04,922 units were marginally lower than Q4FY23 sales of 1,12,145 units, which had benefitted from increased pre-buy due to BS6 Phase II transition. The M&HCV segment contracted marginally ~6% vs Q4 FY23, with demand continuing from the government’s infrastructure initiatives, expansion in core industries, and sustained growth in e-commerce," said Mr Girish Wagh, Executive Director, Tata Motors Ltd.
