March 2024 Tata Motors Sales Growth
In March’24, Tata Motors sold a total of 50,297 passenger vehicles, including 6,738 electric vehicles. Compared to March’23, this marks an increase of 6,072 units in total passenger vehicle sales, showcasing a positive growth trend.
During the same period last year, in March’23, Tata Motors recorded total vehicle sales of 44,225 units, with 6,509 being electric vehicles. Thus, there’s a noticeable uptick in sales performance this year.
FY24 Passenger Vehicle Segment
In Q4 FY24, Tata Motors total domestic sales reached 1,55,010 units. This surpasses the figures from Q4 FY23, which stood at 1,34,893 units in total domestic sales
For FY24, Tata Motors reported total domestic passenger vehicle sales reaching 5,70,955 units. In comparison, FY23 witnessed total domestic passenger vehicle sales of 5,38,640 units.
SUVs: Growth Projections Amid Shifting Trends
Tata Motors projects Industry-wide passenger vehicle segment numbers for FY24, with estimates exceeding 4.2 million units. Robust growth trajectory finds SUV sales to be a big mover, expected to constitute over 50 percent of the overall sales volume in FY24. It’s no surprise though since what SUVs mean has long been redefined in reference to the Indian auto industry. The catchword is ever-expanding.
For Tata Motors, FY24 is the third consecutive year of recording the highest ever sales. Retail sales growth, measured through Vahan-based data, has shown an increase of around 10 percent compared to FY23.
FY24, March 2024 Tata Motors Sales – CNG and EV
The company has also witnessed healthy growth in vehicles powered by CNG and EVs, contributing nearly 29 percent of the overall sales. Tata EV sales are reported at 48 percent growth compared to FY23.
In Q4 FY24, Tata Motors achieved its highest ever wholesales, with 1,55,651 units sold. They also mark the highest number of EVs sold in a quarter, with 20,640 units sold in Q4 FY24. In March’24, Tata Motors crossed sales of 50,000 units for the third consecutive month. A multi-powertrain helps meet varying consumer buying patterns/requirements.
