Tata Motors witnessed an 8 per cent YoY rise in its passenger vehicle sale in the June quarter of 2023 against the June quarter of previous year. On the domestic sale front, the company witnessed a 2 per cent reduction in its total domestic sales at 2,22,345 units in Q1 FY2023 as against 2,25,828 units in the same quarter a year ago.
Domestic passenger vehicle sales, which also included electric vehicles, were at 47,235 units against 45,197 units in June a year ago. This was a growth of 5 per cent, said Tata Motors in a statement.
Tata Motors recorded highest-ever quarterly sales in the June quarter
The passenger vehicle industry in the June quarter witnessed a huge demand fuelled by new launches, especially in the SUV segment and EVs said Tata Passenger Electric Mobility Ltd MD, Shailesh Chandra.
He also highlighted that the company witnessed its "highest-ever quarterly sales of 19,346 in Q1 FY24, registering a growth of 105 per cent over Q1 FY23".
He gave the credit for EV sales growth of Tata Motors to Tiago EV and said that demand for other EVs was sustained. He also added that the demand will remain robust with the onset of the festive season in the second half of Q2FY24. He confirmed that the supply side is stable.
Total CV sales down 15% YoY in Q1FY24
Tata Motors witnessed an 8 per cent annual fall in its commercial vehicle sales at 34,314 units against 37,265 units in June last year. In terms of the quarter, the company witnessed a 15 per cent YoY fall in its CV sales to 85795 units against 100921 units in Q1FY23.
Domestic CV sales of the company plummeted by 4 per cent YoY to 33,148 units as against 34,409 units in the year-ago month, the company said.
"Looking ahead, the promising monsoon and continuing infrastructure thrust by the government auger well for the CV industry, even as it faces the headwinds of high-interest rates, fuel prices, and inflation," Wagh said.
“Tata Motors Commercial Vehicles domestic sales at 82,225 in Q1 FY24 were 14.1% lower than Q1 FY23 sales while for June '23, they were 20.2% higher than the vehicle sales registered in May '23. We successfully upgraded the entire vehicle portfolio during BS6 Phase 2 transition, beyond the mandatory requirements, to offer more features, value-adds, and benefits to customers. M&HCV growth was driven by the strong infrastructure push by the Government, as well as increased activity in e-commerce, construction, and replacement demand in auto logistics and petroleum sector," said Girish Wagh, Executive Director, Tata Motors Ltd.
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