Tata Motors achieved total sales of 70,161 units in July 2024 relating to an 11% YoY de-growth
Tata Motors has reported a decline in total sales in July 2024. Sales both in domestic and export markets stood at 71,996 units, down from 80,633 units sold in July 2023. Total sales (PV + CV) in domestic markets also took a dip, down to 70,161 units, a decline of 11% over 78,844 units sold in July 2023.
Tata Motors July 2024 PV Sales
Tata Motors has seen a significant decline in its passenger vehicle sales in July 2024. With a healthy lineup of models that include the Nexon, Punch, Harrier, Safari, Tiago, Altroz, and Tigor, along with several EV models, sales dipped to 44,725 units in domestic markets which related to a 6.10% decline over 47,628 units sold in July 2023. This was a volume de-growth of 2,930 units. MoM sales however, improved by 2.76% over 43,524 units sold in June 2024.
The company however, met with success in export markets with its passenger vehicle exports up 275% to 229 units in the past month from just 61 units shipped in July 2023. This took total sales (domestic + exports) down 6% to 44,954 units from 47,689 units sold in the same month last year. Talking exclusively of the company’s sales (domestic + exports) in the electric passenger vehicle segment, sales weakened by a significant 20.57% YoY to 5,027 units in July 2024 from 6,329 units sold in July 2023.
Tata Motors looks forward to the new Curvv ICE/EV set for launch on 7th Aug. It is the first coupe-style compact SUV ever launched in India. The ICE variant will take on competition from the Creta, Seltos, Grand Vitara, Hyryder, Elevate, Astor, Kushaq, Taigun and Citroen C3 Aircross while its electric counterpart has the MG ZS EV as its closest rival.
Commercial Vehicle Sales July 2024
Tata Motors also reported a double digit decline in sales across all segments of its commercial vehicle (CV) lineup except where passenger carrier sales were concerned. HCV Truck sales fell by 24% to 6,493 units in July 2024, down from 8,502 units sold in July 2023.
ILMCV sales also suffered an 11% YoY setback to 4,341 units from 4,899 units while there was an increase in terms of passenger carriers, sales of which grew by 3% YoY to 4,424 units up from 4,292 units sold in the same month last year. SCV cargo and pick up sales also fell in the red by 25% to 10,178 units from 13,523 units. Total CV sales in domestic markets thus suffered a 19% setback to 25,436 units in July 2024 from 31,216 units sold in July 2023.
Not only did Tata Motors see lower CV sales in domestic markets, but its export business also fell short by 7% YoY to 1,606 units shipped in the past month over 1,728 units exported in July 2023. Total sales (domestic + exports) thus saw an 18% YoY decline to 27,042 units from 32,944 units.