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

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

Highlights

• Ola’s first electric bike teased

• More details likely revealed next month on August 15th

• The battery pack, electric motor, front sprocket, final drive chain, and more are visible

Bhavish Aggarwal, the CEO of Ola Electric, has teased a new electric bike on social media. This teaser image gives us a glimpse of Ola’s first electric motorcycle, which might be unveiled on August 15th, a significant date for the company.

What the Teaser Image Reveals

The image posted by Aggarwal shows some key components of the upcoming electric bike. Here's what we can see:

1. Steel Tubular Frame: The bike has a strong, tubular frame made of steel.

2. Compact Battery Pack: The battery pack is compact and fits snugly within the frame.

3. Electric Motor Placement: The motor is located below the battery pack.

4. Final Drive and Front Sprocket: The bike uses a chain drive with a visible front sprocket.

5. Control Modules: Several control modules are mounted in different locations, indicating a well-thought-out design.

6. Seat and Footpegs: A part of the seat is visible, along with forward-set footpegs, suggesting this is indeed a motorcycle. The seat height appears to be accessible for most riders.

Past and Future Announcements

Last year, on the same date, Ola Electric showcased four futuristic concept models of electric motorcycles. This year, we might see more developments and possibly more details about this new e-motorcycle.

Current Product Line and Future Expectations

Currently, Ola Electric's product lineup includes e-scooters. The addition of an e-motorcycle could take some time, perhaps a year or two, before a production model is ready. However, the company seems committed to expanding its electric vehicle offerings.

Stay tuned for more updates from Ola Electric, especially around August 15th, when we might get more information about their exciting new electric motorcycle.

Hero MotoCorp has launched the updated 2024 Xtreme 160R 4V, priced at ₹1.38 lakh (ex-showroom). The new Xtreme 160R 4V includes significant upgrades such as dual-channel ABS, a redesigned pillion seat, new paint schemes, and enhanced safety features. The 160cc segment has always been lucrative, and the 2024 Xtreme 160R 4V aims to strike a balance between style and substance for buyers.

In June 2023, Hero MotoCorp introduced the Xtreme 160R with features like USD telescopic front forks, a 4V head, and an oil-cooling setup. Despite these improvements, enthusiasts called for dual-channel ABS, which has now been included in the 2024 Xtreme 160R 4V. The new Xtreme 160R 4V also features a refreshed design, with a new Kevlar Brown color option, in addition to the existing Neon Shooting Star and Stealth Black.

The most noticeable design update is the new black and bronze colorway with striking decals. The split seat design has been replaced with a single-piece seat for enhanced comfort. Additionally, there is a new LED tail light that looks more modern and premium. The 2024 model of the Xtreme 160R 4V also introduces a first-in-segment panic brake alert system that enhances safety by flashing the rear lights during emergency braking.

New Features of the 2024 Hero Xtreme 160R 4V:

Dual-channel ABS: Increases safety and completes the bike's feature set.
Panic Brake Alert: First-in-segment feature that flashes rear lights under emergency braking.
Drag Race Timer: New feature for recording 0-60 km/h sprints.
  
The powertrain remains the same, with a 163.2cc single-cylinder oil-cooled SOHC 4V engine delivering 16.6 bhp and 14.6 Nm of torque, paired with a 5-speed gearbox. The primary competitors for the 2024 Hero Xtreme 160R 4V include the TVS Apache RTR 160 4V and Honda Hornet 2.0.

Ather Energy has made a significant entry into the family scooter market with the launch of the Rizta in India. This new electric scooter is available with two battery pack options: 2.9 kWh and 3.7 kWh. While the deliveries of the 2.9 kWh variant have already begun, there was a delay with the 3.7 kWh version. However, Ather has announced that deliveries of the Rizta 3.7 kWh will start by the end of July.

Impressive Range and Charging

The 3.7 kWh battery pack offers a claimed range of up to 159 km. However, in real-world conditions, the range is expected to be around 125 km on a single charge. The scooter comes with Ather's Duo 700W charger, which charges the battery from 0 to 80 percent in 4 hours, and from 0 to 100 percent in 6 hours and 10 minutes. Using the Ather Grid, you can recharge 15 km of range in just 10 minutes. The battery pack is also IP67 dust and water-resistant, ensuring durability in various conditions.

Powerful Motor and Performance

The Rizta is powered by the same electric motor found in the 450X model. This motor delivers a peak power of 4.3 kW and a peak torque output of 22 Nm. It can accelerate from 0 to 40 kmph in just 4.7 seconds. The electric motor is IP66 resistant, providing additional protection against dust and water.

Advanced Features

The 3.7 kWh version of the Rizta comes with several advanced features. One of the highlights is the Magic Twist feature, which allows the rider to increase brake regeneration by twisting the throttle in the opposite direction. Additionally, the scooter includes Skid Control, which functions as a traction control system to enhance safety.

The Rizta S base model is equipped with the DeepView LCD instrument console from the 450S, which includes turn-by-turn navigation. In contrast, the Z variants feature a TFT screen with Google Maps navigation. It's worth noting that the S trim comes with a standard seat and does not include a pillion backrest, while the Z trim offers a standard pillion backrest and a premium seat.

With these features and options, Ather Energy aims to cater to a wide range of customers looking for a reliable and advanced electric scooter. Many eagerly anticipate the upcoming deliveries of the 3.7 kWh version.

Maruti Suzuki has unveiled its latest offering in the hatchback segment, the Ignis Radiance Edition, with prices starting at Rs 5.49 lakh. The Ignis Radiance edition comes as part of the company's strategy to revitalize sales in the mass market segment, which has experienced a slowdown recently.

The Ignis Radiance Edition brings cosmetic enhancements to the popular hatchback, with variations based on the trim level:

• Entry-level Sigma trim: Priced Rs 35,000 lower than the standard model, it includes wheel covers for 15-inch steel wheels, door visors, and chrome accents.
• Higher-spec Zeta and top-spec Alpha trims: Also priced Rs 35,000 lower, these variants feature new seat covers, black cushions, door cladding, and door visors.

Notably, the mid-spec Delta variant is not available in the Radiance Edition line-up.

The Ignis Radiance Edition retains the same mechanical specifications as the standard model. It is powered by an 83hp, 1.2-litre petrol engine, offering both manual and AMT gearbox options to cater to diverse driver preferences.

In the competitive hatchback market, the Ignis Radiance Edition faces off against rivals such as the Hyundai Grand i10 Nios and Citroen C3. It also competes with other Maruti Suzuki models like the Wagon R, Swift, and Baleno.

With its attractive pricing and added features, the Ignis Radiance Edition aims to appeal to budget-conscious buyers looking for a refreshed look in the small car segment. The introduction of this special edition model demonstrates Maruti Suzuki's efforts to maintain its strong position in the Indian automotive market.

Key Highlights:

• Total turnover reaches Rs. 6.14 lakh crore (USD 74.1 billion)

• 9.8% growth over the previous year

• Robust performance in both domestic and export markets

• Sales to OEMs Boosted by Increased Vehicle Production

In FY 2023-24, sales of auto components to Original Equipment Manufacturers (OEMs) in India surged by 8.9%, reaching Rs. 5.18 lakh crore (USD 62.4 billion). This growth was driven by the increased production of vehicles, higher consumption of value-added components, and a market shift towards larger and more powerful vehicles.

Export Performance

Exports of auto components grew by 5.5%, totaling Rs. 21.2 billion (USD) in 2023-24, compared to USD 20.1 billion in the previous year. Key markets included North America, which accounted for 32% of exports, showing a growth of 4.5%. Europe and Asia followed, with Europe growing by 12% and Asia remaining flat. The primary export items were drive transmission & steering, engine components, body & chassis, and suspension & braking systems.

Import Trends

Imports of auto components also saw an increase, rising by 3.0% to USD 20.9 billion from USD 20.3 billion in the previous year. Asia was the largest supplier, accounting for 66% of imports, followed by Europe and North America at 26% and 8%, respectively. Key import items included engine components, body & chassis, suspension & braking systems, and drive transmission & steering.

Aftermarket Growth

The aftermarket sector experienced a significant boost due to the increased movement of vehicles and higher demand for used vehicles. The turnover in this segment reached Rs. 93,886 crore (USD 11.3 billion) in FY 2023-24, up from Rs. 85,333 crore (USD 10.6 billion) in the previous year. This growth was attributed to enhanced e-commerce penetration and the sector's gradual evolution into a more organized structure.

Industry Outlook

Vinnie Mehta, Director General of ACMA, highlighted the positive impact of stable vehicle production and the robust aftermarket on the industry's growth. Shraddha Suri Marwah, President of ACMA and CMD of Subros, emphasized the contribution of higher value addition from component makers and the growth in auto component exports despite global challenges. The industry remains optimistic for FY 2025, expecting continued growth supported by strong macro-economic indicators, government policies, and an anticipated over 7% growth in Indian GDP.

Carbike360 Says

The Indian auto component industry has shown remarkable resilience and growth in FY 2023-24, driven by robust vehicle production, strong export performance, and a thriving aftermarket sector. The outlook for the coming year remains positive, with expectations of sustained growth and further industry consolidation.

Renault has introduced the all-new Duster in Turkey, marking its global debut. The Turkish plant serves as the primary production hub for the new Renault Duster. The new Duster showcases slight styling variations compared to its Dacia counterpart, particularly in the front fascia, featuring a unique radiator grille and bold 'RENAULT' lettering replacing the rhombus logo.

Key features of the new Renault Duster include:

• Length: 4,343 mm
• Wheelbase: 2,658 mm
• Ground clearance: 209 to 217 mm

The Duster SUV is available in two trim levels: Evolution and Techno. Standard features include:

• 17-inch wheels (18-inch optional)
• LED lights
• 10.1-inch touchscreen infotainment system
• 7-inch digital instrument cluster
• Comprehensive safety package

The new Duster offers three powertrain options:

1. 1.0 TCe LPG dual-fuel engine (100 hp)
2. Full hybrid E-Tech powertrain (145 hp)
3. Mild hybrid setup with 1.2 TCe turbo petrol engine (130 hp)

Pricing for the new Renault Duster in Turkey starts at 1,249,000 Liras (approximately Rs 32 lakh) for the base LPG variant. The E-Tech hybrid range begins at 1,530,000 Liras (around Rs 39 lakh), while the mild hybrid all-wheel drive version starts at 1,580,000 Liras (about Rs 40 lakh).

The India launch of the new-gen Duster is anticipated in 2025. However, the Indian version may differ slightly from the international model in terms of styling and powertrain options. Upon its arrival, the Renault Duster 2024 will compete in the popular compact SUV segment in India.