Tata Motors Sells Total 2,26,245 Units In Q1 FY24

BW Online Bureau Jul 03, 2023

Tata Motors's sales in the domestic & international market for Q1 FY 2023-24 stood at 2,26,245 vehicles, compared to 2,31,248 units during Q1 FY 2022-23.

Domestic Sales Performance:

Category	June 2023	June 2022	Per cent Change	Q1 FY24	Q1 FY23	% Change Total Domestic
Total Domestic Sales	80,383	79,606	1%	2,22,345	2,25,828	-2 %

Commercial Vehicles:

Domestic sales of MH&ICV in June 2023, including trucks and buses, stood at 13,980 units compared to 13,366 units in June 2022; while in Q1 FY24 it stood at 34,256 units, compared to 37,491 units in Q1 FY23.

Total sales for MH&ICV Domestic & International Business in June 2023, including trucks and buses, stood at 14,323 units compared to 14,362 units in June 2022; while in Q1 FY24 it stood at 35,645 units, compared to 39,696 units in Q1 FY23.

Girish Wagh, Executive Director of Tata Motors, said, “Tata Motors Commercial Vehicles domestic sales at 82,225 in Q1 FY24 were 14.1% lower than Q1 FY23 sales while for the month of June '23, they were 20.2 per cent 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.”

Passenger Vehicles:

Category	June’23	June’22	% Change	Q1 FY24	Q1 FY23	% Change
Total PV Domestic (includes EV)	47,235	45,197	5%	1,40,120	1,30,125	8%
PV IB	124	108	15%	330	202	63%
Total PV (includes EV)	47,359	45,305	5%	1,40,450	1,30,327	8%
EV (IB+Domestic)	7025	3608	95%	19,346	9,446	105%

Shailesh Chandra, Managing Director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, said, “The Passenger Vehicle industry in Q1 FY24 witnessed robust demand driven by new launches, especially in the SUV segment and EVs. While SUVs continued to be the mainstay, contributing almost 64 per cent of the sales in Q1FY24, car sales remained strong, buoyed by the multi-power train offerings of Tiago and Altroz. The recently launched Altroz iCNG, has received much acclaim and excellent response from customers."

In the EV segment, the company posted its highest-ever quarterly sales of 19,346 in Q1 FY24 registering a growth of 105 per cent over Q1 FY23. This growth is driven by a strong market response to Tiago EV while demand for other EVs was sustained.

Going forward, Tata Motors expect the demand to remain robust with the onset of the festive season in the second half of Q2FY24 and says that the supply side situation remains stable.