Tata Motors witness 6% decline despite 44,809 units sold in September

Tata Motors, India's leading automobile manufacturer, reported an overall sales unit of 44,809 Passenger Vehicles (PV) in September. Despite this significant number, the firm experienced a year-on-year degrowth of 6 per cent.

The decline is mostly related to a reduction in production of its older Nexon and Nexon EV crossovers in order to facilitate a smooth transition to the significantly revised models that debuted on September 14.

Meanwhile, the company reported an increase of 2 per cent in its total domestic vehicle sales at 82,083 units in September, as against 80,633 units in the same month last year.

Electric vehicle sales, including in international markets, were at 6,050 units, up 57 per cent from 3,864 units in the previous month.

Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd. said, “Passenger vehicle sales remained strong in Q2 FY24 driven by new launches and pre-festive offtakes. Tata Motors posted quarterly sales of 1,38,939 cars and SUVs in Q2 FY24, ~2.7% below our highest ever quarter, Q2 FY23."

"Our EV business continues its strong momentum and has posted growth of about 55% year-on-year. In Q2 FY24, we extended our innovative twin-cylinder CNG offering to Tiago, Tigor and Punch which have been received well by the market. This quarter also saw the launch of the new generation Nexon and Nexon.ev, which have received an overwhelming market response," he added.

Customers have overwhelmingly responded to the new Nexon and Nexon EV, which received a dramatic midlife makeover, according to the company.

Girish Wagh, Executive Director, Tata Motors Ltd. said that the Commercial Vehicles domestic sales stood at 99,178 in Q2 FY24, 6 per cent higher than Q2 FY23.

"M&HCV segment saw a strong growth of 24% over Q2 of FY23, fuelled by continued government infrastructure push, robust replacement demand, and growth in core sectors, along with sustained growth from the e-commerce sector," he added.

Also Read: GST collection rises 10% to Rs 1.63 lakh cr in September