Tata Motors has registered a 20% YoY growth in passenger vehicle sales while its commercial vehicles sales dipped 4 percent
Tata Motors has reported an 8.4 percent increase in total sales (domestic + exports) in February 2024. Total sales stood at 86,406 vehicles in the past month, a growth of 6,701 units when compared to 79,705 units sold in the month of February 2023. In January 2024 total sales (domestic + exports) had stood at 84,276 units thus relating to a MoM growth as well.
Tata Motors PV Sales February 2024
It was the company’s strong electric vehicle lineup that allowed the company to maintain its growth in the passenger vehicle segment in February 2024. PV sales in domestic markets stood at 51,267 units in February 2024, up 20 percent from 42,862 units sold in February 2023. It was however a MoM decline of over 55,633 units sold in January 2024.
Exports on the other hand dipped 81 percent YoY to just 54 units in February 2024 from 278 units sold in February 2023 taking total PV sales to 51,321 units in the past month, up 19 percent from 43,140 units sold in February 2023. These sales also included the company’s electric vehicle lineup.
With rising demand for electric vehicles, Tata Motors has reported a 30 percent YoY growth exclusively for its electric models with domestic and exports at 6,923 units in February 2024, up from 5,318 units sold in February 2023. This electric lineup includes the Nexon EV, Nexon EV Max, Tiago EV and Tigor EV along with the recently introduced Punch EV while sales are set to be boosted once the Curvv EV and Harrier EV are added to this list later this year.
Tata Motors CV Sales February 2024
In the commercial vehicle segment, Tata Motors sales were on the ebb. Sales de-growth was seen across variants segments except passenger carriers which grew at 29 percent YoY to 4,692 units in the past month from 3,632 units sold in February 2023. HCV sales dipped 15 percent YoY to 10,091 units from 11,868 units sold in February 2023 while ILMCV sales dipped 6 percent YoY to 5,083 units. There had been 5,426 units of vehicles in this segment sold in February 2023.
SCV cargo and pickup sales also fell YoY by 4 percent to 13,701 units last month from 14,218 units sold in February 2023. Total CV domestic sales thus dipped 4 percent to 33,567 units in January 2024 from 35,144 units sold in the same month last year. It was the CV exports that grew by 7 percent to 1,518 units thus taking total CV sales to 35,085 units in February 2024 down 4 percent from 36,565 units sold in February 2023.
Last month, the company also introduced its Fleet-Ready Ultra Range in South African markets with two models that include the Ultra T.9 and T.14. These two commercial vehicles are ideally suited for a range of applications and designed to tackle heavy loads across long distances while they are built to withstand the challenging terrains in the region.
