Tata Motors Moves 90,822 Vehicles in March, Domestic Sales Up

2 Apr 2024 , 11:22 AM

On Monday, Tata Motors revealed that its overall domestic wholesale sales increased by 2% in March to 90,822 units. The company reported total domestic wholesales of 89,351 units for the same period last year.

It further stated that domestic passenger car sales, including those of electric vehicles, increased by 14% to 50,297 units in March from 44,225 units in the same period the previous year.

In the domestic market, the total number of commercial vehicle dispatches last month was 40,712, a 10% decrease from 45,307 units in March 2023.

The company reported that its total wholesales in the domestic market were 9,49,015 units for the fiscal year that concluded on March 31, 2024, a 2% increase from 9,31,957 units in 2022–2023′.

Passenger car wholesales increased 6% from 5,41,087 units in FY2022-23 to 5,73,495 units in the most recent fiscal year.

Domestic commercial vehicle dispatches fell by 4% to 3,78,060 units in the most recent fiscal year from 3,93,317 units in the same time the previous year.

“With wholesales of 5,73,495 units (up 6% from FY23) and retail sales growing around 10% vs FY23, the company’s passenger vehicles (including EVs) posted its third consecutive year of highest ever sales in FY24,” said Shailesh Chandra, Managing Director of Tata Motors Passenger Vehicles.

He said that despite not launching a new brand, the company’s multi-powertrain approach allowed it to achieve strong growth, with CNG and EV vehicles accounting for approximately 29% of total sales.

According to Chandra, sales of passenger cars in India are predicted to reach a record of over 4.2 million units in FY24, driven primarily by the robust growth of SUVs, which are predicted to account for over 50% of total sales in FY24 as opposed to 43% in FY23, and the growing appeal of emission-friendly powertrains.

“With sales of cars powered by traditional fuels (petrol and diesel) flattening, almost the entire incremental volume growth of FY24 is expected from rising sales of emission-friendly powertrains,” he stated.

In addition, Chandra stated, “Going forward, we expect the demand for passenger cars to remain strong, although the high base effect may keep the growth rate in single digit.”

According to him, sales of automobiles with emission-friendly powertrains should climb by double digits due to customers’ growing demand for safe and environmentally friendly vehicles, which will be bolstered by new product introductions and a higher value offer.

For feedback and suggestions, write to us at [e-mail]