Tata Motors has reported PV sales growth at 7% in October 2023 aided by SUVs and electric car sales
Tata Motors has registered a YoY growth in total domestic sales (PV+CV) at 6 percent to 80,825 units in October 2023. This was against 76,537 units sold in October 2022. It was also a marginal increase on a MoM basis as compared to total sales (PV+CV) of 82,023 units sold in September 2023.
Passenger Vehicle Sales October 2023
Taking a breakup of Tata Motors sales last month, passenger vehicle domestic sales grew by 7 percent to 48,637 units in October 2023 when compared to 45,217 units sold in October 2022. These sales also included the company’s electric vehicle lineup that sees the likes of the Nexon EV, Tiago EV and Tigor EV, each of which have seen outstanding demand.
Exports on the other had grown by 46 percent to 300 units in October 2023 from 206 units shipped in October 2022. This took total PV sales up 7 percent to 48,637 units in the past month from 45,423 units sold in October 2022.
Where electric vehicles were concerned, the company has reported IB (International Business / Exports) + domestic sales at 5,465 units, up 28 percent over 4,277 units sold in October 2022. These sales figures include those of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility Limited, both of which are subsidiaries of Tata Motors Limited.
Tata Motors’ Commercial Vehicle Sales October 2023
In October 2023, Tata CV sales grew by 4 percent YoY to 34,317 units from 32,912 units sold in October 2022. Growth was seen across all segments except the SCV Cargo and Pick-up segment which fell by 8 percent YoY.
HCV truck sales improved by 10 percent YoY to 10,204 units in October 2023 from 9,253 units sold in October 2022. Tata Motors’ ILMCV truck segment also posted a 14 percent YoY growth in sales to 5,251 units in the past month from 4,690 units sold in the same month last year. It was the Passenger Carrier segment that saw the most growth at 43 percent YoY to 2,514 units in October 2023 when compared to 1,759 units sold in October 2022.
SCV cargo and pick up sales dipped by 8 percent. There had been 15,618 units sold in October 2022 which fell to 14,419 units in the past month. This took total CV domestic sales up 4 percent YoY to 32,488 units in October 2023 from 31,320 units sold in October 2022. Exports on the other hand grew by 15 percent with the company shipping a total of 1,829 units last month as compared to 1,592 units shipped in October 2022.
Tata Motors’ Upcoming Launches
Tata Motors looks ahead to the launch of the new Curvv SUV. It has been spied in a production ready format and Tata Motors will be launching the electric version of Curvv first followed by its ICE-based counterpart. The biggest challenge for the company will be to see how the new Tata Curvv performs in the highly competitive segment that currently includes stalwarts such as the Hyundai Creta, Maruti Grand Vitara, Kia Seltos and Honda Elevate.
