Year end with Modest December Growth – Tata Motors 2024 Sales
Tata Motors’ passenger vehicle (PVs) sales in Decmber 2024 are reported at 44,230 units, marking a modest increase of 490 units or 1.12 percent compared to December 2023. The small export volumes, reflected a significant drop, with only 59 units shipped in December 2024 compared to 205 in December 2023, a decline of 71.22 percent. Total PV sales, encompassing both domestic and export figures, stood at 44,289 units, representing a year-on-year growth of 1.41 percent. The electric vehicle (EV) segment recorded growth, with 5,562 units sold in December 2024, up by 556 units or 11.11 percent from December 2023.
Quarterly performance data for Q4 2024 indicated similar trends. Domestic PV sales reached 139,424 units, an increase of 1,549 units or 1.12 percent over Q4 2023. Export volumes, however, continued to face challenges, declining by 30.17 percent to 405 units compared to 580 units in Q4 2023. The EV segment remained in the green with Q4 2024 EV sales totalling 16,119 units, a 5.82 percent increase from 15,232 units in the same quarter the previous year. Expiration of the FAME II subsidy impacted fleet EV sales. Tata’s focus on private buyers mitigated broader setbacks in the segment.
Flat Q3 Growth: A Festive Lifeline
Q3FY25 witnessed flat growth for tata in the PV market. Festive season retail sales played a crucial role in this performance. Seasonality is of historic relevance in driving demand across India’s automotive landscape.
CY24 marked an active year for Tata Motors, showcasing its focus on growth across segments of the passenger vehicle (PV) market. Total PV sales reached 565,000 units, cementing a fourth consecutive year of positive results. Having sustained momentum in a highly competitive industry.
200K Punch Units: Tata Motors’ Compact Win
SUVs remained a cornerstone of Tata’s portfolio, contributing significantly to its overall performance. Sales volumes of its small car, Punch alone reached 200,000 units during CY24, reflecting strong demand for compact cars. This could be driven by demand for starter cars, or first cars which usually tend to be a small car.
CNG vehicles gained considerable traction in CY24, with sales exceeding 1,20,000 units. This represented 77 percent growth compared to the previous year. Increasing consumer need for cost-effective options has positioned CNG models as a viable alternative to conventional powertrains.
New Launches
Exports presented a mixed picture for Tata Motors in CY24. While Q4FY24 export volumes declined by 30.17 percent to 405 units compared to the same period the previous year, the domestic market’s strong performance offset this downturn.
New product launches sustained Tata’s sales momentum during CY24. Introductions such as the Curvv, Curvv.ev, Nexon CNG, and Nexon.ev 45 presented diverse powertrain options.
