In the second quarter of the fiscal year 2023–24, Tata Motors reported a total of 2,43,024 vehicle sales globally. This figure showed a slight decrease when compared to the same period in the previous fiscal year, when the company sold 2,43,387 units. Also, the automaker sold 45,317 passenger vehicles in September 2023, as opposed to 47,864 in the same period last year. Moreover, total domestic sales accounted for 82,023 units in September 2023. This marks a 2 per cent year-over-year growth as compared to 80,633 units sold in the corresponding period last year.
Breaking it down by vehicle category, the sales of Tata’s passenger vehicles for Q2 FY24 stood at 1,38,939 units, including electric vehicles. This represented a decrease of 3 per cent compared to Q2 FY23. Domestic PV sales, which comprise both ICE and EVs, reached 1,37,950 units in Q2 FY24, reflecting a 2.7 per cent decline from the same period in the previous fiscal year. However, the EV segment within passenger vehicles saw a notable increase, with a 55 per cent growth from Q2 FY23, accumulating 18,615 units.
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Total Tata CV sales for Q2 FY24 reached 1,04,085 units, showing a 4 per cent growth compared to Q2 FY23. HCV (Heavy Commercial Vehicles) trucks witnessed substantial growth with a 25 per cent increase in sales, totalling 30,369 units in Q2 FY24. Similarly, passenger carriers in the CV category experienced 32 per cent growth, reaching 10,622 units in the same period.
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Furthermore, Tata’s medium and heavy commercial vehicles (MH&ICV), including trucks and buses, displayed strong sales performance. In September 2023, MH&ICV sales in the domestic market reached 18,577 units, compared to 14,062 units in September 2022. For Q2 FY24, MH&ICV domestic sales totalled 45,174 units, surpassing the previous fiscal year’s Q2 sales of 38,143 units. International sales for MH&ICV also showed growth, with 46,845 units sold in Q2 FY24, compared to 40,556 units in the same period of the previous fiscal year.
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In conclusion, during Q2 FY24, Tata Motors experienced growth in some vehicle categories, while others saw slight declines compared to the previous fiscal year.
