Tata Motors reports robust sales performance in Q4 FY24, with total sales reaching 2,65,090 units. Notably, Passenger Vehicle (PV) sales surged by 15 per cent year-on-year (YoY) to 1,55,651 units, while Commercial Vehicle (CV) sales witnessed a slight decline of 6 per cent YoY, totalling 1,09,439 units.
Domestic sales figures indicate a positive trend, with a 2 per cent increase in March 2024 compared to the previous year. However, CV sales experienced a 10 per cent decline in the domestic market, attributed to financing constraints among first-time users.
Girish Wagh, Executive Director of Tata Motors Ltd, highlights the industry’s challenges, including a high base effect, elections, and transition to BS6 Phase II norms. Despite these hurdles, Tata Motors enhanced its vehicle portfolio, resulting in overall sales of approximately 3,96,000 units in FY24.
In the PV segment, Tata Motors witnessed significant growth, particularly in SUV sales and emission-friendly powertrains. Sales of EVs and CNG vehicles are projected to grow by 70 per cent and 55 per cent, respectively, in FY24.
Shailesh Chandra, Managing Director of Tata Motors Passenger Vehicles Ltd, expects continued strong demand for passenger cars, driven by consumer preferences for safety and environmental consciousness. The company’s multi-powertrain strategy and focus on EVs position it well for future growth.
Overall, Tata Motors remains optimistic about the future, anticipating increased demand for commercial and passenger vehicles, supported by government incentives and infrastructure development initiatives.
