Tata Motors has reported total domestic sales of 76,138 units in December 2023, up 4 per cent YoY (year-over-year). In comparison, the Indian automaker sold 72,997 units in December 2022. Quarter-wise, the company's overall sales (domestic and international market) for Q3 FY2023-24 stood at 2,34,981 units, compared to 2,28,169 units during Q3 FY2022-23.
Of 76,138 units sold in the domestic market, the company's total passenger vehicle sales in December 2023 were 43,470 units (inclusive of electric vehicles), constituting a 9 per cent increase over 40,043 units sold in December 2022. In the third quarter of the current financial year, the company recorded wholesales of 1,38,455 vehicles, up 5 per cent over the 1,32,255 units the company sold in Q3 FY2023.
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For Tata Motors, this is the third instance of the highest-ever yearly sales. In CY2023, the company recorded sales of approximately 5.53 lakh units, ushered in by its "commanding position in the compact SUV segment and strong growth in hatches, despite the hatch segment degrowing at an industry level".
Tata Motors' Sales Performance in the EV Segment
In terms of total EV sales, Tata Motors registered a growth of 21 per cent in Q3 FY2024 as against Q3 FY2023. The continued popularity of the Tiago EV, supported by the launch of the new Nexon EV, powered EV sales to 15,232 units in Q3 FY2024 from 12,596 vehicles in Q3 FY2023. Besides, an "excellent market response" to the facelifted versions of the Nexon, Harrier, and Safari was also instrumental in achieving 8 per cent of PV sales growth.
Tata Motors' Sales Performance: What the Company Says?
Mr Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd.,
said, "The PV industry is expected to post its highest ever sales in the calendar year 2023 (CY23), crossing the significant 4
million mark, supported by a strong supply situation, new nameplates launched in the SUV segment, and robust demand
during the longer festive period. Coming off a high base, the industry recorded a single-digit growth overall with the key
highlight of this moderate rise being the sharp growth registered in emission-friendly product categories. Both EV and CNG
segments posted growth greater than 90% and 25% respectively, signalling a growing preference for green and smart
technologies by Indian customers".
"Our strong focus on retail sales during the quarter resulted in Vahan registrations significantly rising by ~14% vs Q3FY23 and ~24% vs Q2FY24. We significantly strengthened our market position, reduced channel stock sharply and received an excellent market response to the new avatars of the Nexon, Harrier and Safari, launched during the quarter".
"Going forward, with multiple new products, including a new nameplate scheduled for launch in CY2024, we remain optimistic
about continuing the growth trend in the quarters ahead."
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Meanwhile, the four products in the CNG segment cumulatively registered a 214 per cent growth in the third quarter of FY2024, when compared to Q3 FY2023. Finally, the overall CV (commercial vehicle) sales were 34,180 units in December 2023, while 33,949 units of commercial vehicles were dispatched in December 2022, a rise of 1 per cent.
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