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Tata Motors Records 2% Sales Growth In September 2023

The company recorded total domestic sales of 82,023 units, indicating a modest uptick in consumer demand

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In September 2023, Tata Motors showcased a diverse performance in its domestic vehicle sales, with an overall 2 percent increase in units sold compared to the same period last year. The company recorded total domestic sales of 82,023 units, indicating a modest uptick in consumer demand.

However, the picture was not entirely uniform across the board. Domestic passenger car sales, inclusive of electric vehicles, registered a 6 per cent decline, dropping to 44,809 units from 47,654 units in September 2022. This dip suggests a fluctuating market for conventional passenger cars within the Tata portfolio.

On a more electrifying note, sales of electric vehicles, both in domestic and foreign markets, surged impressively by 57 per cent during the same month, with 6,050 units sold, compared to 3,864 units in the previous year. This robust growth aligns with the global trend towards sustainable mobility and underscores Tata Motors' presence in the electric vehicle sector.

In a broader context, Tata Motors' performance for the second quarter of FY24 remained strong, with 138,939 cars and SUVs sold. While this figure was approximately 2.7 per cent lower than their record-breaking quarter in FY23, it reflects the automaker's resilience in a competitive market.

Tata Motors' electric vehicle business, in particular, continued its upward trajectory, boasting a year-on-year growth rate of about 55 per cent. The company's strategic introduction of a twin-cylinder CNG offering in models like Tiago, Tigor and Punch in Q2 FY24 found favor with consumers and was met with positive market reception.

On the commercial front, Tata Motors reported a 13 per cent increase in overall sales of commercial vehicles, reaching 39,064 units in September 2023, compared to 34,890 units in the same month last year. This rise signifies a growing demand for commercial mobility solutions provided by the automaker.

Further affirming its commercial vehicle success, domestic sales of Tata Motors' commercial vehicles in Q2 FY24 showed a 6 per cent increase, totaling 99,178 units. The medium and heavy commercial vehicles segment, in particular, displayed remarkable growth, surging by 24 per cent over Q2 FY23. This spike can be attributed to ongoing government infrastructure initiatives, a robust replacement demand, and sustained growth in core sectors, bolstered by continued ecommerce sector expansion.

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