Tata Motors’ passenger vehicle segment has seen marginal YoY growth in May 2024 while MoM sales declined
Tata Motors saw a total of 46,697 units sold in the domestic market in May 2024. This was a 1.76% YoY growth from 45,878 units sold in May 2023 while MoM sales declined by 2.48% over 47,883 units sold in April 2024.
Tata PV Sales May 2024
Tata Passenger vehicles (PV) sales, has reported a 1.76% YoY growth to 46,697 units in May 2024 while export figures improved by 257% to 378 units from 106 units on a YoY basis. This took total PV sales (domestic + exports) to 47,075 units, a 2% YoY growth over 45,984 units sold in May 2023.
The company’s electric vehicle lineup, which has the maximum number of models as compared to any other automaker in India and among which are the Nexon, Tiago, Tigor, and Punch, has seen 5,558 units sold that includes both domestic sales and exports. This was however, a 4% decline over 5,805 units sold in May 2023. The new Curvv EVset for launch later in 2024.
Tata Motors CV Sales
Tata Motors is the leading CV maker in India with sales ahead of Mahindra and Ashok Leyland. Its Commercial Vehicle (CV) sales stood at 29,691 units in May 2024, up 2% over 28,989 units sold in May 2023. It was a de-growth seen across the HCV segment with a 3% YoY decline to 7,924 units from 8,160 units sold in May 2023, while ILMCV truck sales grew by 30% YoY to 4,478 units from 3,450 units sold in the same month last year.
Sales across the passenger carrier segment also saw a 22% improvement in demand to 4,737 units while SCV cargo and pickup sales dipped 6% YoY to 11,337 units in May 2024 from 12,086 units sold in May 2023. Total domestic CV sales thus increased by 3% to 28,476 units in the past month. However, commercial vehicle shipments to global markets fell by 14% to 1,215 units last month from 1,419 units sold in May 2023.
Upcoming Launches
There is the upcoming Tata Altroz Racer Edition poised for launch while there is also the Tata Curvv EV / ICE along with Nexon CNG currently doing test rounds. Tata Motors has also commenced production operations from the earlier Ford plant at Sanand from where the Nexon ICE and EVs are currently being rolled out. In the CV segment, Tata Motors is currently testing the Tata Xenon X2 4X4which once launched will take on the upcoming Mahindra Scorpio Pik-up.
