Tata Motors has seen YoY and MoM growth in PV sales with its EV market maintains its leadership
Tata Motor sales in January 2024 saw total sales (domestic + exports) at 84,276 units. This was a YoY growth of 6 percent over 79,681 units sold in January 2023. It also beat December 2023 record when 76,138 units were sold in the last month of the year.
Tata Motors PV Sales January 2024
Tata Motors passenger vehicle sales (that also include its EV lineup) in January 2024 stood at 53,633 units, an 11.77 percent YoY growth over 47,987 units sold in January 2023. This was a volume growth of 5,646 units. MoM sales saw even higher growth of 23.38 percent from 43,470 units sold in December 2023 relating to a 10,163 unit volume growth.
Exports of PVs stood at 400 units, up 32 percent from 302 units sold in January 2023 taking total PV sales to 54,033 units in January 2024, up 12 percent from 48,289 units sold in January 2023. Tata Motors has showcased the Nexon CNG, Curvv, Safari Dark, Altroz Racer etc, at the ongoing Bharat Mobility Global Expo 2024 being held from 1-3 February 2024.
Tata Motors CV Sales January 2024
In terms of commercial vehicle sales, Tata Motors has seen a 2 percent de-growth in total sales which dipped to 32,092 units in the past month. This was against 32,780 units sold in January 2023.
In the HCV segment, sales fell by 11 percent YoY to 8,906 units in January 2024, down from 9,994 units sold in January 2023. ILMCV truck sales remained flat at 4,743 units in the past month on par with 4,755 units sold in the same month last year.
It was in the passenger carrier segment that Tata Motors has seen outstanding sales growth. Sales improved by 36 percent YoY to 3,872 units in January 2024, up from 2,851 units sold in January 2023. However, the company’s SCV cargo and Pick-up segment also posted a 7 percent YoY degrowth to 13,122 units, down from 14,094 units sold in January 2023. This took total CV domestic sales down 3 percent to 30,643 units in January 2024 down from 31,694 units sold in January 2023.
Exports of commercial vehicles have seen outstanding growth with a 33 percent YoY increase in global demand. Sales which had stood at 1,086 units in January 2023, improved to 1,449 units in the past month.
The company is also showcasing several commercial vehicles at the Bharat Mobility Global Show. These include the 5530.S LNG, H.55S and E.28 K from Prima series, Ultra E.9, Ace CNG 2.0, Ace EV, Magna EV, Starbus Fuel Cell EV and Starbus EV.
