Tata Motors Registers Marginal Rise in Sales during June

Tata Motors Registers Marginal Rise in Sales during June

Tata Motors has registered just one percent increase in sales during June 2023, selling 83,383 units during the month as compared to 79,606 vehicles sold during June 2022. However, on a quarterly basis, the sales were 8 percent higher compared to Q1FY23. The electric vehicle sales for Tata Motors reached 19,346 units, marking the best quarter for the company.

Tata Motors registered 5 percent jump in domestic passenger vehicle sales at 47,235 units during June. Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd Managing Director Shailesh Chandra informed that the company has witnessed strong demand for passenger vehicles. The company registered strong sales for EV segment on back of robust interest in Tata Tiago EV. Tata Commercial vehicle sales were lower at 34,314 units in June 2023 as compared to 37,265 units during June 2022, marking a decline of 8 percent.

Chandra added, “We expect the demand to remain robust with the onset of the festive season in the second half of Q2FY24. The supply side situation remains stable.”

The official statement issued by Tata Motors informed, “Looking ahead, the promising monsoon and continuing infrastructure thrust by the government auger well for the CV industry, even as it faces the headwinds of high interest rates, fuel prices and inflation.”

Indian automobile manufacturers are moving slow in launch of new electric vehicles. The demand for affordable EVs is high in India but majority of companies are launching EVs that are priced higher than what Indian consumer is ready to pay. In comparison, Chinese automobile companies are launching EVs that are affordable. China has registered the highest sales for EVs and the adoption of electric vehicles is strong in China. Chinese government is also offering rebates for buying EVs.

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