Tata Motors Sales in February 2024 | 9% YoY Growth in Domestic Sales

Key Highlights:

• Domestic sales surged by 9% compared to last year.
• Total sales, including domestic and international markets, saw a substantial rise.
• Passenger Vehicles (PV) sales grew by 20% within the domestic market.
• Electric Vehicle (EV) sales notably increased by 30% to 6,923 units in February 2024.

Tata Motors, a prominent player in the automotive industry, has released its sales figures for February 2024. The report indicates significant developments in both domestic and international markets.

Despite minor fluctuations in commercial vehicle sales, Tata Motors continues to maintain its stronghold in the domestic market, particularly in the PV segment.

This introduction sets the stage for a detailed analysis of Tata Motors' sales performance in February 2024.

Overall Sales Performance

In February 2024, Tata Motors reported a notable surge in its domestic sales, showcasing a 9% increase compared to the same period last year. The company's total sales, comprising both domestic and international markets, witnessed a substantial rise.

Also Read: Tata Motors Records 6% YoY Growth in January 2024.

Domestic Sales Breakdown

Passenger Vehicles (PV) Sales:

• Tata Motors has sold 51, 267 Units in February 2024
• Total PV sales, including electric vehicles, soared by 20%.
• Electric PV sales specifically saw a significant uptick, indicating a 30% increase.

Commercial Vehicles Sales:

• Domestic sales of commercial vehicles experienced a slight downturn, with a 4% decrease.
• Medium and Heavy Commercial Vehicles (MH&ICV) sales declined both domestically and internationally. 

Tata Motors Electric Vehicle Sales Growth

Electric Vehicles (EVs) have become a focal point of discussion, permeating daily conversations and industry trends. As car manufacturers intensify their focus on electric mobility, the segregation of EV sales data has become common practice.

In February 2024, Tata Motors witnessed a remarkable surge in EV sales, with approximately 6,923 units sold. This figure represents a notable increase of 1,605 units from February 2023, marking a significant year-on-year rise of 30.18%.

In February 2023, Tata Motors had sold 5,318 units of electric vehicles. This substantial increase in sales underscores the growing momentum and consumer interest in electric mobility solutions.

With Tata Motors' commitment to electric mobility, these impressive sales figures reflect not only the company's success but also the increasing acceptance and adoption of electric vehicles in the automotive market.

Tata Motors Domestic Sales Figures

Analysis

Despite minor fluctuations in the commercial vehicle sector, Tata Motors continues to maintain momentum in the domestic market, particularly in the Passenger Vehicles segment. 

Carbike360 Says

Tata Motors' February 2024 sales report reflects a positive trend in the domestic market, with significant growth in Passenger Vehicles sales, including a notable increase in electric vehicle sales. However, the commercial vehicle sector experienced slight declines, indicating areas for potential improvement.