Ad

Ad

Ad

Ad

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

By
Mohit Kumar
Mohit Kumar
|Updated on:02-Apr-2024 09:49 AM

Share via:


Follow Us:

google-news-follow-icon
noOfViews-icon

43,543 Views



ByMohit Kumar

Updated on:02-Apr-2024 09:49 AM

noOfViews-icon

43,543 Views

share-icon

Follow Us:

google-news-follow-icon

Explore the significant 14% year-over-year growth in domestic sales for Tata Motors PV in March 2024.

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.

CategoryMarch’24March’23% changeQ4 FY24Q4 FY23% change
Total PV Domestic (includes EV)50,11044,04414%1,55,0101,34,89315%
PV Exports1871813%641761-16%
Total PV (includes EV)50,29744,22514%1,55,6511,35,65415%
EV (IB + Domestic)6,7386,5094%20,64015,96029%

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.

Ad

Ad


Follow Us:

whatsapp-follow-icon
instagram-follow-icon
youtube-follow-icon
google-news-follow-icon

More News

Hero to Expand its 440 Segment, Trademarks Mavrick 440 Scrambler Name

Hero to Expand its 440 Segment, Trademarks Mavrick 440 Scrambler Name

Hero trademarks Maverick 440 Scrambler, expanding lineup after X440 success. Promises thrilling ride for enthusiasts, tapping into scrambler segment demand.

22-Apr-2024 09:47 AM

Read Full News
Hero to Expand its 440 Segment, Trademarks Mavrick 440 Scrambler Name

Hero to Expand its 440 Segment, Trademarks Mavrick 440 Scrambler Name

Hero trademarks Maverick 440 Scrambler, expanding lineup after X440 success. Promises thrilling ride for enthusiasts, tapping into scrambler segment demand.

22-Apr-2024 09:47 AM

Read Full News
Mahindra XUV.e9 Spotted Testing; India Launch Expected in Q1 of 2025

Mahindra XUV.e9 Spotted Testing; India Launch Expected in Q1 of 2025

Mahindra's XUV.e9, a highly anticipated electric coupe SUV, is set to challenge the EV landscape in India, competing with Tata's Curvv EV and MG's ZS EV. With unique design cues like an EV-specific front fascia, vertically positioned taillights, and a distinctive curved light bar, the XUV.e9 signals Mahindra's commitment to innovation in the burgeoning electric vehicle market.

22-Apr-2024 09:32 AM

Read Full News
Mahindra XUV.e9 Spotted Testing; India Launch Expected in Q1 of 2025

Mahindra XUV.e9 Spotted Testing; India Launch Expected in Q1 of 2025

Mahindra's XUV.e9, a highly anticipated electric coupe SUV, is set to challenge the EV landscape in India, competing with Tata's Curvv EV and MG's ZS EV. With unique design cues like an EV-specific front fascia, vertically positioned taillights, and a distinctive curved light bar, the XUV.e9 signals Mahindra's commitment to innovation in the burgeoning electric vehicle market.

22-Apr-2024 09:32 AM

Read Full News
VIDA Collaborates with Procam International for the TCS World 10K Bengaluru 2024

VIDA Collaborates with Procam International for the TCS World 10K Bengaluru 2024

VIDA V1 partners with TCS World 10K Bengaluru 2024 to promote sustainable mobility, marking Hero MotoCorp's commitment to eco-friendly transportation solutions and a greener future.

22-Apr-2024 07:35 AM

Read Full News
VIDA Collaborates with Procam International for the TCS World 10K Bengaluru 2024

VIDA Collaborates with Procam International for the TCS World 10K Bengaluru 2024

VIDA V1 partners with TCS World 10K Bengaluru 2024 to promote sustainable mobility, marking Hero MotoCorp's commitment to eco-friendly transportation solutions and a greener future.

22-Apr-2024 07:35 AM

Read Full News
New Honda Activa Electric to Launch in 2025

New Honda Activa Electric to Launch in 2025

Get ready for the future of urban mobility! Honda's highly anticipated Activa Electric is set to launch in 2025, featuring cutting-edge specs and contributing to the EV revolution in India.

22-Apr-2024 06:52 AM

Read Full News
New Honda Activa Electric to Launch in 2025

New Honda Activa Electric to Launch in 2025

Get ready for the future of urban mobility! Honda's highly anticipated Activa Electric is set to launch in 2025, featuring cutting-edge specs and contributing to the EV revolution in India.

22-Apr-2024 06:52 AM

Read Full News
Carbike360 Weekly Wrap Up | New 3XO teaser, Triumph, Aprilia Launches and more

Carbike360 Weekly Wrap Up | New 3XO teaser, Triumph, Aprilia Launches and more

Discover the latest updates in the world of cars and bikes with Carbike360 Weekly Wrap Up. Get insights on the new 3XO teaser, Triumph, Aprilia launches, and more.

21-Apr-2024 08:06 AM

Read Full News
Carbike360 Weekly Wrap Up | New 3XO teaser, Triumph, Aprilia Launches and more

Carbike360 Weekly Wrap Up | New 3XO teaser, Triumph, Aprilia Launches and more

Discover the latest updates in the world of cars and bikes with Carbike360 Weekly Wrap Up. Get insights on the new 3XO teaser, Triumph, Aprilia launches, and more.

21-Apr-2024 08:06 AM

Read Full News
Nissan India Opens New Showroom, Display & Service Center in Delhi, Expands Reach To 270 Touchpoints

Nissan India Opens New Showroom, Display & Service Center in Delhi, Expands Reach To 270 Touchpoints

The launch of the new touchpoints brings Nissan’s high-quality sales and service experience to customers in New Delhi and marks a significant milestone in Nissan’s continuing journey towards customer centricity.

20-Apr-2024 06:47 AM

Read Full News
Nissan India Opens New Showroom, Display & Service Center in Delhi, Expands Reach To 270 Touchpoints

Nissan India Opens New Showroom, Display & Service Center in Delhi, Expands Reach To 270 Touchpoints

The launch of the new touchpoints brings Nissan’s high-quality sales and service experience to customers in New Delhi and marks a significant milestone in Nissan’s continuing journey towards customer centricity.

20-Apr-2024 06:47 AM

Read Full News

Ad

Ad

Explore Other Cars Brands

Cars In India

Mahindra Bolero Neo Plus

Mahindra Bolero Neo Plus

₹ 11.39 - 12.49 Lakh

Skoda Superb Facelift

Skoda Superb Facelift

₹ 54.00 Lakh

Toyota  Urban Cruiser Taisor

Toyota Urban Cruiser Taisor

₹ 7.73 - 13.03 Lakh

Lexus LM

Lexus LM

₹ 2.00 - 2.50 Cr

Hyundai Creta N Line

Hyundai Creta N Line

₹ 16.82 - 20.45 Lakh

Toyota bZ4x

Toyota bZ4x

₹ 70.00 Lakh

MG 4

MG 4

₹ 15.00 - 21.00 Lakh

Audi Q8 2024

Audi Q8 2024

₹ 1.17 Cr

Nissan X-Trail

Nissan X-Trail

₹ 26.00 - 32.00 Lakh

Ad

Ad

Ad