Mumbai, October 02, 2023.
Tata Motors Limited sales in the domestic & international market for Q2 FY 2023-24 stood at 2,43,024 vehicles, compared to 2,43,387 units during Q2 FY 2022-23.
Domestic Sales Performance:
|Category||Sep’23||Sep’22||%Change||Q2 FY24||Q2 FY23||% Change|
|Total Domestic Sales||82,023||80,633||2%||2,37,128||2,36,090||0%|
|Category||Sep’23||Sep’22||%Change||Q2FY24||Q2 FY23||% Change|
|SCV cargo and pickup||14,626||15,565||-6%||41,704||44,768||-7%|
|Total CV Domestic||37,214||32,979||13%||99,178||93,765||6%|
MH&ICV including trucks and buses: Domestic sales of MH&ICV in Sep 2023, was 18,577 units vs 14,062 units in Sep 2022; In Q2 FY24 it was 45,174 units, compared to 38,143 units in Q2 FY23. Domestic & International sales for MH&ICV in Sep 2023, was 19,199 units vs 4,736 units in Sep 2022; while in Q2 FY24 it stood at 46,845 units, vs 40,556 units in Q2 FY23.
Mr. Girish Wagh, Executive Director, Tata Motors Ltd. said, “Tata Motors Commercial Vehicles domestic sales stood at 99,178 in Q2 FY24, 6% higher than Q2 FY23. Our upgraded BS6 phase II product range continues to see good traction as our customers experience benefits of lower total cost of ownership, efficient powertrains, and enhanced value-additions. M&HCV segment saw a strong growth of 24% over Q2 of FY23, fuelled by continued government infrastructure push, robust replacement demand, and growth in core sectors, along with sustained growth from the e-commerce sector. We have scaled up our electric bus manufacturing to service orders won from various STUs under CESL’s Grand Challenge. Looking ahead, continuing infrastructure thrust by the Government and improving consumption auger well for the CV industry, while rural demand remains to be a key monitorable, as monsoon has been below average.”
|Category||Sep’23||Sep’22||%Change||Q2 FY24||Q2FY23||% Change|
|Total PV Domestic (includes EV)||44,809||47,654||-6%||1,37,950||1,42,325||-2.7%|
|Total PV (includes EV)||45,317||47,864||-5%||1,38,939||1,42,851||-3%|
Includes sales of Tata Motors Passenger Vehicles Limited and Tata Passenger Electric Mobility Limited.
Mr. Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd.said, “Passenger vehicle sales remained strong in Q2 FY24 driven by new launches and pre-festive offtakes. Tata Motors posted quarterly sales of 1,38,939 cars and SUVs in Q2 FY24, ~2.7% below our highest ever quarter, Q2 FY23. Our EV business continues its strong momentum and has posted growth of about 55% year-on-year. In Q2 FY24, we extended our innovative twin-cylinder CNG offering to Tiago, Tigor and Punch, which have been received well by the market. This quarter also saw the launch of the new generation Nexon and Nexon.ev, which have received an overwhelming market response. We had proactively reduced supplies of the outgoing models this quarter to enable a smooth transition to the new generation models. Going forward, with deliveries commencing of our exciting new generation products, we expect stepped up volumes in this festive season and beyond.”