Tata Motors saw both its domestic sales and exports suffer lower demand in October 2024 – Punch and Nexon continue to be the best seller for Tata Motors
Tata Motors has been seeing rather lackluster sales over the past few months as the company deals with lower demand and market uncertainties. The decline in PV sales was marginal by 0.43% YoY to 48,131 units sold in Oct 2024 while there had been 48,337 units sold in Oct 2023. MoM sales however saw a marked improvement by 17.21% from 41,064 units sold in Sept 2024.
Tata Domestic Sales October 2024
Getting back to sales in October 2024, Tata Motors also posted a decline in exports by 2.67% YoY to 292 units from 300 units shipped in Oct 2023. The company, which has the largest lineup of electric vehicles, has also seen declining sales in this category with figures down to 5,355 units last month, a 2.01% decline from 5,465 units sold in Oct 2023.
Tata Motors that had 48,131 unit PV sales in domestic markets, with a flat growth over 48,337 units sold in Oct 2023 saw its total PVs (that included EVs) at 48,423 units. This was a 0.44% de-growth from 48,637 units sold in Oct 2023.
Tata CV Sales October 2024
Across the commercial vehicle (CV) segment, there were some highs and lows. HCV truck sales fell by 2% YoY to 10,024 units, down from 10,204 units sold in Oct 2023. ILMCV truck sales however, surged by 9% YoY to 5,836 units, well over 5,351 unit sales as of Oct 2023. The company’s passenger carriers also saw tremendous growth by 13% to 2,835 units sold in Oct 2024 over 2,514 units sold in the same month last year.
SCV cargo and pick up sales witnessed a 3% decline in demand to 14,013 units, down from 14,419 unit sales of Oct 2023. This took total CV domestic sales to 32,708 units in Oct 2024. This was a 1% growth over 32,488 unit sales of Oct 2023.
Where exports of commercial vehicles were concerned, Tata Motors saw its shipments decline by 15% to 1,551 units in Oct 2024 from 1,829 units shipped in Oct 2023. This took total CV sales to 34,259 units, reporting flat growth on a YoY basis from 34,317 units sold in Oct 2023.
In the PV segment, Tata Motors revamped their portfolio. Some variants of the Punch have been removed while the company also deleted some features from the Safari Pure variant. The new Tata Curvv has been crash tested and scored a 5 Star rating both in adult and child occupant safety.
