Tata Motors PV Sales In March 2024 Shows 14% YoY domestic Growth

Key Highlights:

• Tata Motors sold 43,372 domestic ICE passenger vehicles.
• Domestic EV sales reached 6,738 units.
• Tata Motors exported 187 passenger vehicles.

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. 

Q4 FY 2023-24: Impressive Sales Figures

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.

Positive Trends in Passenger Vehicle Segment

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.

Domestic Sales Highlights for March 2024

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.

Overseas Market Performance

In March 2024, Tata Motors exported only 187 units, a slight increase from the 181 units shipped overseas in March 2023.

Insights from Shailesh Chandra

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.

Contribution of EV and CNG Segments

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.

Carbike360 Says

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.

Also Read: Mahindra Passenger Vehicle Sales in March 2024 | Overall 4% Domestic YoY Growth

With a set of comprehensive new cosmetic changes, MG Motors India has launched two new versions in the MG Gloster lineup, SNOWSTORM and DESERTSTORM. These two gloster storms, adding to the storm series, have their own unique flamboyant exterior while having a sporty black interior with white stitching.

The recently launched Maruti Suzuki Swift is set to receive its very own CNG variant. The current Swift, a 4th-generation model, is available only with a 1.2-liter Z-series petrol engine, boasting best-in-class fuel efficiency of 24.80 km/L (MT Gearbox) and 25.57 km/L (AMT Gearbox). Maruti's new CNG variant is expected to outperform the previous 3rd-generation CNG variant with an improved fuel efficiency of 1-2 km/L, bringing the new efficiency to an impressive 31.9-33 km/L.

CarBike360 Says

The 4th-generation CNG Swift, even with the efficiency of the previous generation, is poised to lead the segment. It will outperform competitors such as the Tata Tiago CNG, which offers a company-claimed fuel efficiency of 26.49 km/L, and the Hyundai Grand i10 Nios CNG, which has the second-best CNG fuel efficiency at 27 km/L.

Also Read: 2024 Maruti Suzuki Swift Arrives At Selected Dealerships; All Details Here

Expected to launch on 7th June, Tata Altroz Racer is confirmed to be available in 3 variants i.e. R1, R2 and R3. Moreover, it will come in the following 3 colour options:

1. Atomic Orange
2. Avenue White
3. Pure Grey

Being a more powerful performance oriented version of the regular Altroz, the Altroz Racer replaces the Altroz iTurbo. This means Tata has now discontinued the iTurbo variants of the Altroz, replacing them with the Racer variants.

Additionally, bookings for the Altroz Racer are now open. It is expected to be priced between Rs 9.5 Lakh to Rs 11 Lakh (Ex-Showroom).

Also Read: Tata Altroz Racer Details Leaked Before June 7 Launch, New Features & Specs

With effect from June 1, 2024, Maruti Suzuki has announced a significant price reduction on some of its best-selling cars equipped with AMT (Automated Manual Transmission), with discounts of up to Rs. 5000. This price cut applies to popular models such as the Maruti Baleno, Maruti Fronx, Maruti Dzire, Maruti Wagon-R, Maruti Ignis, Maruti Celerio, Maruti S-Presso, and Maruti Alto K10. However, the recently launched Maruti Swift 4th generation is excluded from this price cut lineup.

CarBike360 Says

As Maruti Suzuki prepares to launch its Dream Editions, the company is facing a decline in Year-on-Year (YoY) and Year-to-Date (YTD) sales in its mini and compact car segments. This strategic price reduction is likely aimed at boosting sales and attracting more customers to these popular AMT models.

Also Read: 2024 Maruti Dzire Spotted: Launch Following New Swift Unveil

Tata Altroz Racer launch & price reveal is expected on June 7, 2024. The launch event is likely to take place in Coimbatore, Tamil Nadu. Moreover, its media drive is expected on June 13-14, 2024. It will be the performance oriented version of the regular Tata Altroz and will rival the Hyundai i20 N-Line. Here are all the confirmed new features and specs of this hot hatch:

Confirmed New Features:

1. Front Ventilated Seats
2. 360 Degree View Camera With Rear Blind View Monitor
3. Wireless Phone Charger
4. Wireless AA/AP (Android Auto/Apple Carplay)
5. Six Airbags
6. 10.25 inch Touchscreen Infotainment
7. Fully Digital Instrument Cluster
8. 7 inch TFT Drivers Display
9. Built-in Air Purifier
10. Orange Colour Ambient/Footwell Lighting
11. Voice Controlled Sunroof
12. iRA Connected Car Tech

All Confirmed Specs:

1. 1.2 Litre 3-Cylinder Turbo Petrol Engine
2. 120 PS Power, 170 Nm Torque
3. 6 Speed Manual Gearbox
4. Front Disc Brakes, Rear Drum Brakes
5. Sporty Exhaust
6. 16 inch Diamond Cut Alloys
7. 165 mm Ground Clearance

Also Read: Tata Altroz Racer Teased Again; Showcases Sporty Characteristics and Features; Details

This week in the auto world, several significant events have made headlines, from major vehicle launches to upcoming incentive schemes and technological advancements. Let's dive into the latest updates that have captured the attention of automotive enthusiasts and industry insiders alike.

Mahindra Delivers 2,500+ XUV 3XOs in First Three Days

Mahindra has successfully delivered over 2,500 units of its new XUV 3XO SUVs across India within the first three days of its launch on May 26. The XUV 3XO, which replaces the XUV300 in the sub-compact segment, aims to take on rivals like the Tata Nexon and Maruti Suzuki Brezza. Despite the high demand, Mahindra has announced that deliveries for the entry-level and top-end variants will commence in June, showcasing the vehicle's strong market reception.

Hero MotoCorp Introduces New-Generation Splendor+ XTEC 2.0

Celebrating the 30th anniversary of the world's highest-selling motorcycle, Hero MotoCorp has launched the new-generation Splendor+ XTEC 2.0, priced at ₹82,911 (ex-showroom, Delhi). The updated model retains the classic Splendor silhouette but introduces several premium upgrades. These include a new LED headlamp with a high-intensity position lamp (HI PL) and an H-shaped signature taillight, enhancing both aesthetics and functionality.

Upcoming FAME 3 Scheme to Offer INR 10,000 Crore for Hybrid Vehicles

The Indian government is set to roll out the third edition of its flagship electric vehicle incentive scheme, FAME (Faster Adoption and Manufacturing of Electric Vehicles). With an allocation of INR 10,000 crore, FAME 3 will focus on promoting electric two-wheelers, three-wheelers, and government buses. While the inclusion of electric cars for institutional buyers such as taxi aggregators is still under consideration, the scheme aims to significantly boost electric vehicle adoption across the country.

Tata Altroz Racer Teaser Unveils New Features

Tata Motors has released an exciting teaser video for the upcoming Altroz Racer, revealing features such as the exhaust note, sunroof, bonnet and roof stripes, racer badging, and shark fin antenna. Expected to launch in mid-June, the Altroz Racer will come equipped with a 1.2-liter turbo petrol engine from the Nexon, a 6-speed manual gearbox, and potentially a 6-speed DCA automatic transmission. Additional features likely to be offered include a 10.25-inch touchscreen, Heads-Up Display (HUD), 360-degree camera with rear blind view monitor, and wireless Android Auto/Apple CarPlay.

New 2024 Nissan Qashqai: The Best Crossover SUV Rolls Out of the Best Manufacturing Plant

Nearly 18 years after the first Nissan Qashqai created the crossover segment, the 2024 model has been unveiled with significant updates. Manufactured in Sunderland, UK, the new Qashqai features a bold design and cutting-edge technology enhancements aimed at elevating the customer experience. With more than four million customers in over 100 countries, the Qashqai continues to be a major player in the crossover SUV market.

Carbike360 Says

This week's developments highlight the dynamic nature of the automotive industry, with significant new launches, innovative upgrades, and supportive government policies driving the market forward. As we look ahead, these advancements promise to shape the future of mobility, offering consumers more options, better technology, and a greener footprint. Stay tuned for more updates as the industry continues to evolve.