Tata Motors revealed the September 2023 Sales and it reports 82,023 units with the demand for the electric vehicles are crazy as the year-on-year growth was about 57%.
Tata Motors September 2023 Sales
Passenger Sales:
| Category | September 2023 | September 2022 | Growth | Q2 FY24 | Q2 FY23 | Growth |
|---|---|---|---|---|---|---|
| Domestic (includes EV) | 44,809 | 47,654 | -5.97% | 1,37,950 | 1,42,325 | -3.07% |
| PV IB | 508 | 210 | +141.90% | 989 | 526 | +88.02% |
| Total PV (includes EV) | 45,317 | 47,864 | -5.32% | 1,38,939 | 1,42,851 | -2.73% |
| EV (IB + Domestic) | 6,050 | 3,864 | +56.57% | 18,615 | 12,041 | +54.59% |
Let’s dive into the passenger vehicle sales first. Tata Motors did domestic sales of 44,809 units in September 2023, and this sales figure also includes electric vehicle line-up which includes – Tigor EV, Tiago EV, and Nexon EV. Soon to be joining the list is the Punch EV, Harrier EV, and Curvv EV that are coming by early next year. However, the domestic sales reports dip in year-on-year sales by 5.97% compared to 47,654 units in September 2022. There was de-growth in sales by 3.07% to 1,37,950 units in Q2 FY24 against the 1,42,325 units in Q2 FY23.
Exports however, reports growth by big margin. The exports in September 2023 were 508 units which has improved by 141.90% against the 210 units while Q2 exports also improved by 88.02% in FY24 to 989 units from the 526 units in FY23. This takes the total passenger vehicles sales to 45,317 units which is down by 5.32% compared to 47,864 units in Sept. 2022, and the Q2 sales are also down by 2.73% to 1,38,939 units in FY24 from the 1,42,851 units in FY23.
Electric vehicles sales which includes exports and domestic sales figures are also improving significantly as it did 6,050 units in September 2023 which is 56.57% growth over the 3,865 units last year. The Q2 sales are also up by 54.59% to 18,615 units in FY24 from the 12,041 units in FY23.
Commercial Sales:
| Category | September 2023 | September 2022 | Growth | Q2 FY24 | Q2 FY23 | Growth |
|---|---|---|---|---|---|---|
| HCV Trucks | 12,867 | 8,899 | +44.59% | 30,369 | 24,227 | +25.35% |
| ILMCV Trucks | 6,377 | 6,238 | +2.22% | 16,483 | 16,730 | -1.4% |
| Passenger Carriers | 3,344 | 2,287 | +46.21% | 10,622 | 8,040 | +32.11% |
| SCV Cargo and Pickup | 14,626 | 15,565 | -6.03% | 41,704 | 44,768 | -6.84% |
| Total CV Domestic | 37,214 | 32,979 | +12.84% | 99,178 | 93,765 | +5.77% |
| CV IB | 1,850 | 1,911 | -3.19% | 4,907 | 6,771 | -27.52% |
| Total CV | 39,064 | 34,890 | +11.96% | 1,04,085 | 1,00,536 | +3.53% |
Time to dive in the Commercial Sales now. The Commercial Sales performance are better with Tata Motors reporting 11.96% growth from 34,890 units last year to 39,064 units in September 2023, and the sales for Q2 are improved as well with growth of 3.53% to 1,04,085 units in FY24 compared to 1,00,536 units in FY23. The demand for the HCV trucks are increasing with sales in September 2023 of 12,867 units which is 44.59% growth compared to 8,899 units in September 2022, and in case of Q2, it was 1,04,085 units in FY24 which had improved by 3.53% from the 1,00,536 units in FY23.
The ILMCV Sales saw 2.22% marginal year-on-year growth from 2,287 units last year to 3,344 units in September 2023, and the Q2 Sales however were down by 1.4% to 16,483 units in FY24 from the 16,730 units in FY23. The SCV Cargo and Pickup Sales are also down by 6.03% year-on-year to 14,626% units, while in Q2, the sales are down by 6.84%. The Total CV Domestic sales was 37,214 units which 12.84% growth year-on-year, and in Q2, the growth was 5.77% to 99,178 units in FY24.
The Commercial Vehicles Exports however were down by 3.19% year-on-year to 1,850 units from 1,911 units shipped in September 2022 while the Q2 sales also were very down by 27.52% to 4,907 units in FY24 from 6,771 units shipped in FY23.
| Category | September 2023 | September 2022 | Growth | Q2 FY24 | Q2 FY23 | Growth |
|---|---|---|---|---|---|---|
| Total Domestic Sales | 82,023 | 80,633 | +1.72% | 2,37,128 | 2,36,090 | +0.4% |
Mr. Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd. said, “Passenger vehicle sales remained strong in Q2 FY24 driven by new launches and pre-festive offtakes. Tata Motors posted quarterly sales of 1,38,939 cars and SUVs in Q2 FY24, ~2.7% below our highest ever quarter, Q2 FY23. Our EV business continues its strong momentum and has posted growth of about 55% year-on-year. In Q2 FY24, we extended our innovative twin-cylinder CNG offering to Tiago, Tigor and Punch, which have been received well by the market.
This quarter also saw the launch of the new generation Nexon and Nexon.ev, which have received an overwhelming market response. We had proactively reduced supplies of the outgoing models this quarter to enable a smooth transition to the new generation models. Going forward, with deliveries commencing of our exciting new generation products, we expect stepped up volumes in this festive season and beyond.“
