Tata Motors sells 2.31 lakh vehicles in Q1 FY23

1 Jul 2022 , 07:34 PM

Tata Motors announced its sales in the domestic & international market, for Q1 FY23, which stood at 2,31,248 vehicles, compared to 1,14,784 units during Q1 FY22. The companys total domestic sales stood at 2,25,828 vehicles in Q1 FY23, recording a quarter-on-quarter decline of 3% and a year-on-year growth of 110%. Domestic sales stood at 79,606 vehicles in month of June 2022, recording a month-on-month growth of 6% and a year-on-year growth of 82%. Commercial vehicle sales stood at 1,00,921 vehicles in Q1 FY23, recording a quarter-on-quarter decline of 16% and a year-on-year growth of 101%. Commercial vehicle sales stood at 37,265 vehicles in month of June 2022, recording a month-on-month growth of 14% and a year-on-year growth of 69%. Passenger vehicle sales stood at 1,30,125 vehicles in Q1 FY23, recording a quarter-on-quarter growth of 6% and a year-on-year growth of 102%. Passenger vehicle sales stood at 45,197 vehicles in month of June 2022, recording a month-on-month growth of 4% and a year-on-year growth of 87%. Girish Wagh, Executive Director, Tata Motors said, ?Tata Motors Commercial Vehicles domestic sale in Q1 FY23 at 95,703 units was 121% higher than Q1 FY22 (a COVID impacted quarter) while being 13% lower than the previous quarter Q4 FY22. The growth in Q1 has been broad-based across regions and segments. The M&HCV and I&LCV segments grew by 104% and 138%, respectively, over the same quarter (Q1) last year on the back of increased activity in road construction, mining, and growth in agriculture and e-commerce. SCV demand from last-mile distribution has remained robust backed by continued consumer spending. CV Passenger saw a strong recovery, with a 57% increase over Q4 FY22, due to the opening of schools and replacement of staff buses. The International Business declined by 23% over Q1 FY22, majorly due to a drop in industry volume on account of the financial crisis in Sri Lanka and Nepal. Going ahead, we remain cautiously optimistic about overall demand while keeping a close watch on interest rates, transporter profitability, commodity prices and semiconductor availability? Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility said, ?Demand for passenger vehicles continued to stay strong in Q1 FY23 even as the supply side remained moderately impacted due to the lockdown in China. Overcoming the challenges, Tata Motors posted record-breaking monthly sales (June22) as well as quarterly sales (Q1 FY23). For the month of June22, sales were highest ever at 45,197 units, registering a growth of 87% versus June21. Quarterly sales for Q1 FY23, at 130,125 units, was also the highest ever, posting a growth of 102% versus Q1 FY22. Our SUV portfolio contributed 68% of Q1FY23 sales. Electric vehicle sales attained new heights with quarterly sales of 9,283 in Q1 FY23 and highest-ever monthly sales of 3,507 units in June22. Nexon EV Max launched in May22, has witnessed strong demand. Going forward, we expect the supply side, including that of critical electronic components to progressively improve. We will continue to keep a close watch on the evolving demand and supply situation and take appropriate actions.?Powered by Capital Market - Live News