Ad
Ad
Explore the significant 14% year-over-year growth in domestic sales for Tata Motors PV in March 2024.
Key Highlights:
Despite facing numerous challenges, including supply chain disruptions and market uncertainties, the Pune-based automaker has managed to deliver decent growth across its commercial and passenger vehicle segments.
Sales unit data reveals compelling insights into the company's strategic focus on both traditional internal combustion engine (ICE) vehicles and the burgeoning electric vehicle (EV) market.
Although the overall domestic sales growth of Tata Motors is only 2% but they have shown notable growth in passenger vehicle sales. We can say that Tata is losing control in commercial vehicle segment as there is a decline of 10% in monthly sales, 4% in yearly sales and 6% in Quarterly.
In the fourth quarter of FY 2023-24, Tata Motors reported a total of 265,090 vehicle sales, marking a significant increase from the 251,822 units sold during the same period in FY 2022-23.
Category | March’24 | March’23 | % change | Q4 FY24 | Q4 FY23 | % change |
Total PV Domestic (includes EV) | 50,110 | 44,044 | 14% | 1,55,010 | 1,34,893 | 15% |
PV Exports | 187 | 181 | 3% | 641 | 761 | -16% |
Total PV (includes EV) | 50,297 | 44,225 | 14% | 1,55,651 | 1,35,654 | 15% |
EV (IB + Domestic) | 6,738 | 6,509 | 4% | 20,640 | 15,960 | 29% |
During Q4 FY 2023-24, Tata Motors recorded sales of 155,010 passenger vehicles, up from 135,654 units in the same period last year, indicating a notable 15% YoY growth. Similarly, for March 2024, the company sold a total of 155,651 units in the PV segment, showcasing a 15% YoY growth.
Tata Motors witnessed steady growth in domestic sales for March 2024, with a total of 90,822 units sold, reflecting a marginal 2% year-on-year (YoY) increase inlcudes both commercial and passenger vehicle.
Notably, out of these sales, 50,110 units belonged to the passenger vehicle segment. This figure represents a substantial 14% YoY growth compared to the previous year.
In March 2024, Tata Motors exported only 187 units, a slight increase from the 181 units shipped overseas in March 2023.
Shailesh Chandra, Managing Director of Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd., expressed optimism regarding the Indian passenger vehicle market. He anticipated a record-breaking performance in FY 2023-24, with over 4.2 million units sold, driven by robust SUV sales. Chandra projected that SUVs would constitute over 50% of total sales, compared to 43% in FY 2022-23.
Moreover, Chandra highlighted the expected growth in the electric vehicle (EV) and compressed natural gas (CNG) segments, projecting a 70% and 55% YoY growth, respectively. He attributed this growth to new product launches, expanding charging infrastructure, rising CNG stations, lower operating costs, and increased customer awareness towards environmental sustainability.
As of now, the EV and CNG segments collectively contribute 29% to Tata Motors' overall passenger vehicle sales. Notably, the CNG segment witnessed an impressive 120% growth in FY 2023-24, while the EV segment surged by 48%. Tata Motors reported sales of 73,833 electric cars in FY 2023-24, indicating a significant uptake in electric mobility.
Tata Motors' stellar performance in FY 2023-24 not only reaffirms its status as a leading player in the Indian automotive industry but also highlights its resilience, innovation, and forward-thinking approach. As the company continues to chart its course towards sustainable growth and technological advancement, it is poised to remain a key driver of change and progress in the years to come.
Ad
Ad
Ferrari Unveils the F80: Its Most Powerful Hypercar Ever
Discover the Ferrari F80, the most powerful hypercar ever, featuring a 1,200-horsepower hybrid V-6 engine, advanced aerodynamics, and a staggering price tag of $4 million.
17-Oct-2024 01:07 PM
Read Full NewsFerrari Unveils the F80: Its Most Powerful Hypercar Ever
Discover the Ferrari F80, the most powerful hypercar ever, featuring a 1,200-horsepower hybrid V-6 engine, advanced aerodynamics, and a staggering price tag of $4 million.
17-Oct-2024 01:07 PM
Read Full NewsJeep India Unveils 2025 Meridian: Bookings, Features, and Engine Specs
Explore the 2025 Jeep Meridian’s connected technology, ADAS, comfort features, engine specs, and expected cosmetic updates.
17-Oct-2024 11:40 AM
Read Full NewsJeep India Unveils 2025 Meridian: Bookings, Features, and Engine Specs
Explore the 2025 Jeep Meridian’s connected technology, ADAS, comfort features, engine specs, and expected cosmetic updates.
17-Oct-2024 11:40 AM
Read Full NewsGet this New Maruti Swift with Rs 50k of Free Accessories
Get complimentary accessories worth Rs. 50K if you are planning to buy a new Maruti Swift Blitz Edition. Check out what you are getting at different trim levels.
17-Oct-2024 05:10 AM
Read Full NewsGet this New Maruti Swift with Rs 50k of Free Accessories
Get complimentary accessories worth Rs. 50K if you are planning to buy a new Maruti Swift Blitz Edition. Check out what you are getting at different trim levels.
17-Oct-2024 05:10 AM
Read Full NewsSkoda Kylaq Unveiled: Compact SUV with Special Camouflage
All-new Skoda Kylaq, a bold compact SUV launching in India. Featuring advanced safety, a robust design, and eco-friendly materials, it's perfect for both city streets and off-road adventures.
16-Oct-2024 05:22 AM
Read Full NewsSkoda Kylaq Unveiled: Compact SUV with Special Camouflage
All-new Skoda Kylaq, a bold compact SUV launching in India. Featuring advanced safety, a robust design, and eco-friendly materials, it's perfect for both city streets and off-road adventures.
16-Oct-2024 05:22 AM
Read Full NewsTata Nexon Scores 5-Star in Bharat NCAP Crash Test
Check out the 5-star safety rating of Tata Nexon in Bharat NCAP crash tests, reinforcing its position as a top choice in the sub-4m SUV segment."
15-Oct-2024 12:30 PM
Read Full NewsTata Nexon Scores 5-Star in Bharat NCAP Crash Test
Check out the 5-star safety rating of Tata Nexon in Bharat NCAP crash tests, reinforcing its position as a top choice in the sub-4m SUV segment."
15-Oct-2024 12:30 PM
Read Full NewsHyundai Motor India IPO Subscribed 10 per cent on Day 1: Retail Investors Lead with 17 per cent Bids
Hyundai Motor India IPO sees 10% subscription on Day 1, with 17% retail participation. The IPO is set to be the largest in India, surpassing LIC’s record.
15-Oct-2024 10:16 AM
Read Full NewsHyundai Motor India IPO Subscribed 10 per cent on Day 1: Retail Investors Lead with 17 per cent Bids
Hyundai Motor India IPO sees 10% subscription on Day 1, with 17% retail participation. The IPO is set to be the largest in India, surpassing LIC’s record.
15-Oct-2024 10:16 AM
Read Full NewsAd
Ad
Mercedes-Benz E-Class
₹ 78.50 - 92.50 Lakh
Volvo EX40
₹ 56.10 Lakh
BYD eMax 7
₹ 26.90 - 29.90 Lakh
Nissan Magnite
₹ 6.00 - 11.66 Lakh
Kia Carnival
₹ 63.90 Lakh
Maruti New Dzire
₹ 7.00 - 10.00 Lakh
Skoda Kylaq
₹ 8.00 - 12.00 Lakh
Hyundai Tucson facelift
₹ 29.00 - 36.00 Lakh
Mahindra Bolero 2024
₹ 10.00 Lakh
BYD Seagull
₹ 10.00 Lakh
Ad
Ad
Ad