Tata Motors reports decline in sales for the month of August with 8% Year-on-Year Growth and loss of 6,255 units.

Tata Motors registered total sales of 71,693 units in August 2024, marking an overall decline compared to the previous year. Both the commercial and passenger vehicle segments experienced a drop in sales, though certain areas showed signs of growth. This performance highlights a challenging yet evolving landscape for the company.

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Tata Motors Sales Performance for August 2024

Tata Motors faced a challenging month in August 2024, with a total domestic sales figure of 70,006 units, reflecting an 8% year-on-year (YoY) decline compared to the 76,261 units sold in August 2023.

In the commercial vehicle (CV) segment, Tata experienced a significant drop in sales. Total CV sales, which include heavy commercial vehicles (HCV), intermediate and light commercial vehicles (ILMCV), and small commercial vehicles (SCV), fell by 15% YoY to 27,207 units, down from 32,077 units in August 2023.

• HCV trucks saw a steep decline of 21%, dropping from 9,000 units in August 2023 to 7,116 units in August 2024.
• ILMCV trucks dropped by 5%, from 5,207 to 4,965 units.
• On the positive side, passenger carriers grew by 14%, increasing from 2,986 units to 3,410 units.
• However, SCV cargo and pickups fell sharply by 23%, from 13,555 units to 10,373 units.
• Overall, domestic CV sales stood at 25,864 units, a 16% drop compared to 30,748 units in August 2023.
• On a brighter note, CV International Business (IB) sales grew by 1%, reaching 1,343 units compared to 1,329 units in August 2023.

In the passenger vehicle (PV) segment, Tata Motors saw a slight dip in sales, with total PV sales (including electric vehicles) falling by 3% YoY. The total PV sales in August 2024 stood at 44,486 units, down from 45,933 units in August 2023.

• Domestic PV sales, excluding international business (IB), reached 44,142 units, marking a 3% decrease from 45,513 units sold in August 2023.
• PV IB sales dropped by 18%, from 420 units to 344 units.
• Electric vehicles (EVs), both domestic and IB, also saw a 5% decline, with sales dropping from 6,236 units in August 2023 to 5,935 units in August 2024.

Verdict

Tata Motors faced significant headwinds in August 2024, with declines across both commercial and passenger vehicle segments. However, the company’s growth in passenger carriers and a slight increase in international commercial vehicle sales highlight areas of strength. As the automotive market remains competitive, Tata will need to focus on these positive trends while addressing the challenges that led to lower sales in key areas.

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