Tata Motors June 2023 Sales: Steady Growth Continues for Quarter, H1 2023
Tata June 2023 sales continued to exhibit sales growth. This holds true for June 2023, as well as the first half of 2023 (H1 2023). The stress is on consistent progress.
In June 2023, Tata Motors reported sales of 47,235 units, representing 4.51 percent year-on-year (YoY) growth. Volume growth stood at 2,038 units, up from 45,197 units. Steady increase is in line with overall growth trends essayed by the top two auto manufacturers in the market, Maruti Suzuki, and Hyundai India.
Quarterly Success: Tata Motors Reports Growth in Q2 2023
Tata Motors reported 2.95 percent month-on-month (MoM) growth over May 2023, with sales of 45,880 units. Volume growth stood at 1,355 units.
From a quarterly perspective, Tata Motors touched 1,42,133 units in Q2 2023. QoQ growth is reported at 15.50% YoY. In the same period in 2022, sales stood at 1,23,055 units. Volume growth for the quarter just ended stood at 19,078 units.
H1 2023 Triumph: Double-Digit Sales Growth
In Q1 2023, sales were reported at 1,34,902 units. This meant subsequent quarter-on-quarter growth was reported at 5.36 percent at volume gain of 7,231 units.
The first half of 2023 (H1 2023) has been a period of double digit growth for Tata Motors. With sales reaching 2,77,035 units, Tata Motors reported an increase of 30,925 units or 12.57 percent compared to H1 2022. In the same 6 months in 2022, sales stood at 2,46,110 units.
Festive Season Fuel: Tata Motors Anticipates Sales Surge in Q2FY24
Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd. said, “Tata Motors continued its growth trajectory registering quarterly sales of 1,40,450 units in Q1 FY24 and recording a growth of ~8% over Q1 FY23.
In the EV segment, the company posted its highest ever quarterly sales of 19,346 in Q1 FY24 registering a growth of ~105% over Q1 FY23. This growth is driven by a strong market response to Tiago EV while demand for other EVs was sustained.
Going forward, we expect the demand to remain robust with the onset of the festive season in the second half of Q2FY24. The supply side situation remains stable.”
