Tata Motors once again emerged as the No. 2 best-selling automaker in February 2024 showing off a 19.6% YoY growth with 13.6% market share
The 3 leading automakers in India, Maruti, Tata and Hyundai have showcased strong sales growth across February 2024 each crossing the 50,000 unit mark. Sales are set to escalate even further in the months ahead as new product launches with several feature improvements will prove to be a draw for buyers in the country.
Tata Motors Sales Breakup February 2024
Tata Motors sales last month stood at 51,270 units, a 20 percent YoY growth over 42,865 units sold in February 2023. It was however a 4 percent decline on a MoM basis from 53,635 units sold in January 2024. Increased sales in February 2024 boosted up market share to 13.7 percent over 12.8 percent on a YoY basis.
Tata Punch was the best-selling model in the company lineup. Sales grew by a massive 65 percent YoY to 18,438 units in February 2024, up from 11,169 units sold in February 2023. It was also a YoY growth of 3 percent from 17,978 units sold in January 2024. Tata Punch was also the No. 1 selling SUV in India, beating both Maruti Brezza and Hyundai Creta by around 3,000 units. Tata Punch EV, launched in January 2024, at an attractive price point, is set to dominate the EV segment.
At No. 2 was Tata Nexon with 14,395 units sold in February 2024, showing off a YoY growth of 3 percent but a MoM decline of 16 percent. There had been 13,914 units and 17,182 units sold in February2 023 and January 2024 respectively. Tata Motors recently introduced Dark Editions of the Nexon/EV, Harrier and Safari thus creating more excitement across its portfolio.
Tata Tiago hatchback, offered in petrol and EV variants, retained its No. 3 position in the company portfolio even as sales fell by 7 percent YoY to 6,947 units last month. It however saw a 7 percent MoM growth from 6,482 units sold in January 2024. Also in the hatchback segment was Tata Altroz, the 4th best-selling model with a 15 percent YoY growth in sales to 4,568 units in February 2024. This was over 3,955 units sold in February 2023. MoM sales dipped 7 percent from 4,935 units sold in January 2024.
Tata Safari, Harrier and Tigor – February 2024
Lower down the sales list was Tata Safari. It has seen a triple digit YoY growth by a massive 112 percent to 2,648 units in February 2024 from just 1,252 units sold in February 2023. MoM sales dipped 8 percent from 2,893 units sold in January 2024. Tata Harrier followed close behind with 2,562 units sold last month posting a 25 percent YoY but 2 percent MoM decline.
YoY sales de-growth was reported for the Tata Tigor, sales of which fell by 44 percent to 1,712 units last month from 3,064 units sold in February 2023. It made up in terms of MoM sales which improved by 11 percent over 1,539 units sold in January 2024. Tata Tigor and Tiago, were recently instrumental in the company achieving a 1 million production milestone at its state of the art Sanand Plant.
Tata Motors, which has generally been at a 3rd spot on this list, superseded Hyundai Motors to the No. 2 spot last month. It was the automakers strong electric vehicle lineup, which recently saw the Punch EV and Nexon EV facelift added to the list, that brought in these increased sales. Apart from their EV lineup, the Punch and Nexon ICE models are also a huge attraction to buyers and regular features on the top 10 sales lists each month. The hefty discounts being offered by Tata Motors through the month of March 2024 is also set to spur up sales to an even greater extent.
